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Walmart India, wholly-owned subsidiary of US-based Walmart Stores today said it plans to add 50 more cash and carry stores in four to five years, saying it continues to focus on B2B segment in the country.
"In addition to our existing 20 cash-and-carry stores in India, Walmart plans to open 50 more cash-and-carry stores in the next four to five years.
While growing our India business, we will continue to invest on supply chain infrastructure and supplier development, especially helping the growth of small and medium manufacturers in India," Rajneesh Kumar, Vice President and Head Corporate Affairs Walmart India said here.
On entering B2C segment in India, Kumar said the company would continue to focus on the existing business segment. "We are very pleased with our current business and remain very focused in growing this B2B business," he said.
"As an B2B business model, Best Price Modern Wholesale stores sell products to businesses only. The current Foreign Direct Investment (FDI) guidelines allow 100 per cent FDI in B2B wholesale Cash & Carry business.
We are extremely pleased with the focus of both the Centre and states on ease of doing business. This is not only helping in conducive investment climate, but also helps us to continue adding local jobs and contributing to the growth of the nation," he said in a statement issued here.
Walmart India operates 20 Best Price wholesale stores in nine states across the country. It opened its first store in Amritsar in May 2009.
