Walmart is bringing a side of daily life to India which many Indians are certain to appreciate due to the low cost for many high quality products which Walmart offers. Fox Business Network reported on April 8, 2014, that Walmart is opening 50 Stores in India. As the world's biggest retailer this expansion in India will change the landscape for shoppers in India.
Walmart presently operates 20 stores in India which sell directly to retailers instead of to consumers. Under India laws full foreign ownership is acceptable in wholesale stores and at this time 51 percent foreign ownership is allowed in supermarkets. IBN reports Walmart plans to open the 50 new wholesale stores in India in 4-5 years.
Walmart Asia President and CEO Scott Price said in a statement, "Walmart is committed to India and we are excited about our growth plans. We will continue to focus on the cash-and-carry format as we are very happy with the way it has shaped up in the last few years." Investigations of violations of the US Foreign Corrupt Practices Act in the Indian arm of Walmart are finished with the firm ensuring they will not be repeated. Price has said the firm is taking a number of important steps to strengthen compliance in order to make certain the firm does the right thing everyday.
Walmart will soon be bringing exciting new shopping opportunities to 1.24 billion Indians in a country which appears to have as much potential growth for retail markets as China. More and more Indians will join tens of millions of American shoppers in seeing it's really worth checking out what Walmart has to offer for as the firm says "Save money, live better!" MandelMall.com offers the opportunity to enjoy shopping at Walmart online.