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Wal-Mart eyeing the Indian market

Wal-Mart eyeing the Indian market

Author | Source: Business Line | Saturday, Sep 10,2005 8:21 AM

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Wal-Mart eyeing the Indian market

Wal-Mart is raring to have a go at the Indian market where it is looking forward to competing in what it terms a "robust retail environment."

But it will wait for the Indian Government to announce the legal framework of investments before it finalises a business plan for its proposed Indian retail operations, Ms Beth Keck, Director, International Corporate Affairs, told Business Line when contacted.

"We have conducted studies on the markets in India and are very keen to be in business there since it is an excellent growing market with a terrific economic growth," Ms Keck said. "We have been waiting for the Government's announcement regarding the legal framework for foreign investments and can only finalise our business plans for the country after it is clear," she said.

The retailer with $285.2 billion in sales in fiscal ended January 2005, has 3,600 stores across the US and extensive operations overseas with stores in Germany, Japan, the UK, Mexico, China, Canada, Brazil, Puerto Rico and South Korea among others.

India's burgeoning retail industry could be in for a major shake-out with the entry of the corporation which is known all over the world for attracting customer footfalls with its low prices.

Over 138 million customers shop at Wal-Mart stores across the world every week.

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