Bharti Wal-Mart to open stores in India by June 2009

by Dave

 Business Standard

Bharti Wal-Mart, grocery and retail chain operator, will be going ahead with its plans to launch its cash and carry stores despite the current market instability, said Raj Jain, managing director and chief executive officer, Bharti Wal-Mart here today.
The company was fully committed to its long-term investments in India, he added. Bharti Wal-Mart is a joint venture between Bharti Enterprises and US retail giant Wal-Mart.

The joint venture, which is for wholesale cash-and-carry and back-end supply chain management operations in India, is scheduled to open its first store in Punjab in the first quarter of the next financial year.

A conventional cash and carry store will occupy 50,000 to 100,000 sq.feet and sell a wide range of fruits and vegetables, groceries, footwear, clothing and other general merchandise. The joint venture would open 15 stores in the next seven years and employ 5,000 people over the same period as according to plan.

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