Walmart plans to operate 70 cash & carry stores in India by 2020

Walmart plans to operate 70 cash & carry stores in India by 2020

~India Shopping Centre Forum 2016 deliberates paradigm shift in shopping experience~

May 11: Walmart India has stepped up its expansion plans to take the tally of its cash & carry outlets to 70 by the year 2020, said Krish Iyer, President and CEO, Walmart India at the inaugural day of India Shopping Centre Forum 2016.

Currently, the global retailer operates 21 cash & carry stores across nine states in India.

“We have received number of proposals from across the country to help create the shopping experience covering two-three more states covering 12 states in India,” Iyer said addressing delegates at the conference without disclosing the investment figures.

Speaking about Walmart focus on India, Iyer said, “India is the only bright spot in the emerging economy in particular and global economy in general.  India will continue to remain the fastest growing major market in the next 5 years with macro-economic indicator including fiscal deficit being well under control and the economy robust.

Sharing his thoughts on the retail sector, Iyer said, “India is one of the largest markets in the world and I see opportunity for the next 30 years.  While the policies & regulatory bodies remain a challenge to start the business with situation being not very retail friendly not only for global players but also for local players as well; however, programs like Make in India, Startup India, Digital India & Skill India has the potential to change the course.”

Earlier speaking at the Forum, Abhishek Malhotra, Co-Head, Consumer Industries & Retail Product Practice – India and SE Asia, A.T. Kearney pointed out that the Indian consumer landscape is undergoing a tectonic shift with a richer and younger population.

“One third of Indian population is having an average of over Rs. 5 lacs as their family income that has led to a growing middle and upper class sections adding to the spending power. Further, rising internet penetration is giving way to online retail, with participation increases outside metros,” Malhotra said. (ENDS).

About Images Group:

The Images Group is trusted as the catalyst for profitable growth of modern retail through knowledge platform leadership.

A strong portfolio of business publications covering all verticals of retail have served since 1992 to inform, advise and inspire the leaders and decision makers of the industry. The key retail verticals served by Images include Fashion, Textiles, Real Estate, Technology, Food Service, Food & Grocery, Retail Support, Beauty & Wellness and Franchising.

The need to connect with businesses, people, knowledge and ideas associated with modern retail is served by Images Business Exhibitions and networking meets. Images Conferences are usually conducted alongside the exhibitions, and feature global business leaders and experts. These powerful knowledge forums inspire not just debate and discussion, but policy decisions too.

Images Awards are respected as unbiased, transparent and accurate measures of retail performance… and loved for the style with which these successes are celebrated.

Other Images initiatives in Business Intelligence, Market Research, Retail Training and On-line Community Building also play important roles in further developing the world’s most attractive retail destination – India.

Images is headquartered in New Delhi with offices across Indian Metros and in the Middle East. More information about IMAGES is available on www.imagesgroup.in.

For further information contact FHMKTG PR:

Namrata Aswani @ 9920710261

Pavitra Tupurani @ 8773583536

Share: