The joint venture between US retail giant Wal-Mart and India’s Bharti Enterprises is due to open its first Indian wholesale cash-and-carry store next week in Amritsar in the state of Punjab.
“It will be opened early next week,” Arun Mowar, spokesman for Wal-Mart in India, told Reuters.
Bharti Wal-Mart’s Amritsar store will be the first of 10 to open over the next two years, according to the company. The stores will cover between 4,600m2 and 9,300m2.
The new wholesale store will operate under Bharti Wal-Mart’s Best Price Modern Wholesale flag.
Strong opposition from India’s powerful kirana store lobby groups has delayed Bharti Wal-Mart’s entry to the market.
Current retail legislation limits foreign companies and their joint ventures to wholesale operations, but following the results of the recent Indian federal election retailers are hoping those rules will be loosened.
“The new government should look at opening up retail by bringing in foreign direct investment,” said Rajan Bharti Mittal, vice-chairman of Bharti Enterprises.
New commerce minister Kamal Nath earlier said foreign retail investment legislation would remain unchanged for the time being, however.
