Wal Mart first outlet innagurated
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Wal-Mart has started its first auctions project in India and this was its aim to launch a niche in the country’s huge consumer market. US discount chain has tied up with Bharti Enterprises a subsidiary of India’s largest mobile company Bharti Airtel for the wholesale JV which will be known as Best Price Modem Wholesale. Wal-Mart India’s Head said to www.propertykhazana.com that, “We had lot of proposing and preparation for the venture from the past one year and we are very happy that all our effort will be fruitful when we start our first cash and carry store in India.” Launching of Wal-Mart’s first ‘big box’ outlet in Amritsar City in northern state of Punjab, it will be the high-stakes one for the US retailer which is increasing globally to raise its incomes. “India is the first one to end to 1.5 Million people and a burly growing economy which is determined by private consumption,” he added.
Wal-Mart company source said to www.propertykhazana.com that, “The Best Price Modern Wholesale will cater 6,500 foods and non-food items at ‘cheap wholesale rates’.” He also added that, there is a requirement to open learning curve with the Indian customer, as it is the first large step in that direction. Best rates is not for retail shoppers but will also be for small stores, fruit and vegetables sellers, restaurants, hotels and other trading stores, under the taut foreign investment norms, no abroad chains are allowed in the retail segment except for single brand stores like Nokia or Reebok to safeguard the local retail players. For more updates on realty market browse www.propertykhazana.com.
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