August 9, 2007
Wal-Mart Moves Into India
Wal-Mart and Indian telecom firm Bharti Enterprises have embarked on a 50/50 venture to open 8 - 15 wholesale stores in India to serve small shops. The first store is set to open in late 2008 or early 2009.
The Telegraph explains why they will only be serving wholesale stores:
India does not allow foreign investment in the retail sector except for single-brand stores such as Nokia or Nike, and foreign groups have to sign franchise deals with local firms to enter the market. Key Communist allies of the Congress party-led coalition government object to major overseas retailers entering India, saying it would wipe out millions of “mom-and-pop” shops across the country.
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