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Sep 25, 2012

Walmart Plans To Open Stores In India Within 12-18 Months

The government last week approved 51% FDI in multi-brand retail
image World's largest retailer Walmart is gearing up to open its retail outlets across India within the next 12 to 18 months, after the government approved foreign direct investment in multi-brand retail. Walmart Asia CEO Scott Price said last week that the company is in talks with its joint-venture partner Bharti Enterprises to proceed with setting up stores in the country.

The government last week approved 51% FDI in multi-brand retail. The U.S. retailer also needs to get state government approvals to establish stores.

At present, Bharti Walmart operates 17 wholesale outlets under the brand 'Best Price Modern Wholesale'. Walmart owns 50% of the wholesale chain operator, while Bharti Enterprises runs its own retail stores under the name 'easyday'.