Retail plans after Walmart separation completion: Bharti Enterprises

Bharti Enterprises will decide on its future course of expansion in the retail sector once its ongoing process of separation with partner Walmart is completed.

"We're still in the process of separation (from Walmart). Once that is done, we'll come back with a plan of action. We haven't taken a decision as yet on what our strategy will be going forward," Bharti Enterprises Vice-Chairman and Managing Director Rajan Bharti Mittal said on the sidelines of an event in the national capital.

Last month Bharti Enterprises and Walmart Stores Inc announced that they were parting ways for operations in the Indian retail sector. Subsequently, the US retail major will buy out the Indian partner from their 50:50 wholesale cash and carry joint venture - Bharti Walmart, for an undisclosed sum.

The two partners had joined hands in 2007 and launched its first B2B Best Price Modern Wholesale cash-and-carry store in Amritsar in May 2009 and gradually scaled up the number of stores to 20 in different parts of the country.

When asked about Bharti Retail's future plans post the break-up, Mittal said: "We'll come back once we have a strategy."

Bharti Retail operates over 200 stores under the 'easyday' brand across India. Bullish on the Indian retail sector, Mittal said: "I've always said that the retail sector in India has huge potential. So there's no doubt in my mind that, that still remains."

Earlier during a panel discussion, Mittal said the current political situation and the upcoming general elections could have an impact on immediate foreign investments coming into the country.

"If I were a foreign investor, I'd wait for a stable political regime (in India) to invest... We're hearing from our investors that India should have a decisive Centre," Mittal said. He, however said the next phase of growth will have to be financed by foreign capital. So we will have to look at FDI for future growth, he added.