Walmart plans to open 50 stores in India in 4-5 years
"We currently have 21 stores and plan to open 50 stores in four to five years
Members of Swadeshi Jagran Manch protest against Walmart, in New Delhi, on Thursday. Pic/PTI
A day after announcing $16 billion investment in India's largest online retailer Flipkart, Walmart Inc on Thursday said it would continue to grow its wholesale cash-and-carry business, adding 50 new stores in the next four-five years.
"We currently have 21 stores and plan to open 50 stores in four to five years. Plans are on track," Walmart India President and CEO Krish Iyer said at a media roundtable.
Walmart Chief Executive Doug McMillon said Flipkart group, in which the US retailer is acquiring 77% stake, would continue to operate as a separate board-managed company.
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