Walmart Returns To India After Two Years

22/12/2014 7:02 PM IST | Updated 15/07/2016 8:24 AM IST
NEW! HIGHLIGHT AND SHARE
Highlight text to share via Facebook and Twitter
ASSOCIATED PRESS
A man pushes a shopping cart outside of a Walmart store that boarded its entrance and closed early in Kailua-Kona, Hawaii, Thursday, Aug. 7, 2014, as the area prepares for Hurricane Iselle. Hurricane Iselle is expected to arrive on the Big Island on Thursday evening, bringing heavy rains, winds gusting up to 85 mph and flooding in some areas. Weather officials changed their outlook on the system Wednesday after seeing it get a little stronger, giving it enough oomph to stay a hurricane as it reaches landfall. (AP Photo/Chris Stewart)

After a gap of two years, US retail major Walmart will open a new cash and carry store in Agra as it returns focus on India.

The company, which opened its last store in Bhopal towards the end of 2012, has said it will focus on cash and carry business in India in the absence of clarity on FDI in multi-brand retail trade.

"Walmart is committed to India and we are focused on our growth plans... We have recently received all internal approvals for opening a new store in Agra, our second one in the city," Walmart spokesperson told .

"Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year," he added.

Walmart runs 20 cash and carry stores under brand Best Price across 9 states.

Earlier this year, Walmart announced plans to open 50 wholesale stores in the next 4-5 years to expand its footprint across the country.

Walmart, however, did not reveal investment details or its plans for further expansion.

The company will also extend its online platform in all its stores in 2015. Walmart operates B2B e-commerce platform in four cities in India -- Lucknow, Hyderabad, Guntur and Vijayawada. "We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015," Walmart said.

The company had called off 6-year partnership with Bharti Enterprises in October last year and decided to operate stores independently in India.

More On This Topic