Walmart will open 50 new wholesale stores across India over the next three to four years which will be located in the states of Telangana, Andhra Pradesh, Maharashtra, Punjab, Uttar Pradesh and Haryana. President and CEO, Walmart Canada and Asia, Dirk Van den Berghe, said Walmart was committed to India, and the country with its efficient economy was an important market for them.
Each store will be spread over 50,000 to 60,000 square feet. The company will invest $10 to $12 million in each store which will serve 300,000 wholesale customers; hotels, restaurants, caterers, offices and institutions; and 30,000 mom-and-pop grocery shops.
IndiaRetailing reports that Walmart currently sources 97 percent of the products within India. 15 percent of its merchandise is sourced from the region where its store is located. The company proposes to work with small and marginal farmers and offer training and education to all stakeholders in the value chain.
