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 Indian economy through job creation, supporting ‘Make in India’ through local sourcing, supporting women entrepreneurs, small and medium enterprises, start-up entrepreneurs and farmers.”
A typical cash-and-carry store in India spans over 50,000 square feet and sells about 5000 items: a wide range of fresh, frozen and chilled foods, fruits and vegetables, dry groceries, personal and home care, hotel and restaurant suppliers, clothing, office supplies and other general merchandise items.
With more than 95% of goods locally sourced, Walmart will add 50 stores in the next 4-5 years in India, reports the Economic Times.
