Walmart to set up 50 more outlets in India

Walmart Stores Inc has announced plans to open 50 more wholesale outlets in India and launch online operations to sell goods to small traders.

This is the first major announcement by the retailer after it called off a six- year partnership with Bharti Enterprises last October and decided to operate stores independently in India. Walmart already runs 20 such wholesale stores in India. Walmart's growth in India has been slowed by an internal bribery probe and uncertainty over regulations on foreign direct investment ( FDI) in retail in India.

"We are taking a number of important steps to strengthen compliance so that we do the right thing everyday," Scott Price, Walmart's Asia chief executive said in a statement. " We are evaluating and reinforcing procedures and programmes relating to all compliance areas, including licensing and permits, food safety, and responsible sourcing among others," Price further said.

Courtesy: Mail Today