Still restriction on foreign retailers for direct investment in India has in the way to downward; recent announcement to open it’s a new branch by Wal-Mart, once again raise issue of FDI.
It has been reported that Wal-Mart, the largest globally developing retailer, is in way to set up its B2B stores pipeline in India, targeting the low-cost, no frills front-end multi-branded retail stores.
This plan comes in existence by partnership with Bharti Enterprises as a joint venture partner. Its main focus is to offer merchandise to retailers, offices and institutions, hotels, restaurants and caterers at best prices.
Offering The Best Price Modern Wholesale, The Company is likely to set up 15 B2B cash-and-carry stores in future under its Bharti-Walmart JV.
In his report, source of WalMart India said, “We continue to pursue the middle-income customer in these markets. We have recently established our presence in high growth markets such as India and Africa with our joint ventures. In India we currently have 17 Best Price Modern Wholesale stores and are looking further to expand our presence in the country.”
As per recent required norms, foreign retailers should invest at least $100 million for attaining permission for FDI, out of which half has to be on developing back-end infrastructure.
Even Indian government yet thinks at length about opening up foreign direct investment (FDI) norms in multi-brand retail, the company is already spreading its footprints in India and also on high-growth markets such as Mexico, China, and Brazil.
Now the only wait for the government guidelines to allow direct investment in multi-brand front-end retail sector. As The Best Price Modern Wholesale would get permit, it take an appropriate decision by grabbing the opportunities at that time.