Indian joint venture Bharti-Walmart has announced plans to expand its presence in the country as well as increase local sourcing and exports from India to its stores.
The cash and carry wholesaler said it aims to open new stores in India’s southern and western states during the next 18-24 months.
“Within 12-18 months we should be able to be in the southern markets,” Bharti-Walmart managing director and CEO Raj Jain told the Economic Times.
“We are focusing on all four southern states. And probably after that, within two years, we will be in west India.”
The company has yet to firm up its target number of stores, but said it would follow the 4,600-7,400m2 (50,000-80,000ft2) format of its existing outlets.
Bharti-Walmart opened its second store this week in Chandigarh. At the opening president and CEO of Walmart Asia told local media the retailer planning to increase its Indian sourcing.
“Walmart sees India as a future location to source products for its stores worldwide,” Mr Price told Indian Express.
“As of now, 90 per cent of the products at our stores are sourced locally. We are now looking at what can be exported and sourced from India for our stores in the US and other parts of Asia.”
Produce from Punjab is a particular point of focus, according to Mr Jain, but local production quality needs to be brought up to international standards.
Bharti-Walmart has also been pushing for the Indian government to open the country to direct foreign investment in retail. Mr Jain argued foreign investment could help bring the country’s inflation under control with at least a 2 per cent drop.
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