Walmart, the world's largest retailer, posted a 7% rise in revenue in India. With 21 outlets, the company now sells goods only to traders, institutions, and small- to medium-sized grocery stores. Krish Iyer, CEO of Wal-Mart India said, "We are excited with this continuous progress and our contribution to the...
India among top 15 emerging retail markets
A.T. Kearney's Global Retail Development Index for 2013 views India favorably and realistically. It points to India's large, young, increasingly brand- and fashion-conscious population. Retail growth of 14 to 15 percent per year is expected through 2015. "Modern retail" remains limited (7 percent in 2012), but it is expected to...
Foreign Retailers may get access to major cities
China allowed Foreign Direct Investment in multi-brand retail in 1992, but only in six major regions and cities, and limited foreign ownership to 49 per cent. India seems to ready to follow a similar approach now, but allow 51 per cent FDI for companies such as Walmart and Tesco. (Single...
Europe's Carrefour chooses Delhi area location
Retailer Carrefour of France will open its first "cash-and-carry" wholesale store in India later this year. Real estate company, Parsvnath Developers, announced that the store will be located at one of its malls located in the National Capital Region of New Delhi. American retailer Walmart already has a small number...