American multinational retailing company Walmart plans to invest Rs. 900 crores to open 15 outlets in Maharashtra, that will cater to wholesalers. According to the State Government, these stores will help generate 30,000 direct and indirect jobs in the western state.

The State Industries Department of the Maharashtra Government has signed a Memorandum of Understanding (MoU,) with Walmart in the presence of the Chief Minister Devendra Fadnavis. Pravinsingh Pardeshi, CM’s additional secretary along with Sunil Porwal, Development Commissioner Harshdeep Kamble and Walmart’s India head Krish Iyer were also present at the signing. 

The retail giant presently has two stores in Maharashtra, in Aurangabad and Amravati and operates 21 wholesale membership clubs across nine states, offering nearly 5,000 items under the Best Price Modern Wholesale brand.

Many of the global brands are currently operating in India in the cash and carry format as Indian laws do not permit full foreign direct investment in single brand retail stores. The 15 new stores will also be set up in the wholesale cash and carry format.

Business Line reported the company has already identified Nagpur, Nashik, Pune and Bhiwandi, near Mumbai, as possible locations for the stores and will primarily focus on food and agriculture products in the State. The state government will grant single window clearances for this investment, according to Development Commissioner (Industries) Harshadeep Kamble. These stores will, reportedly, require a year or two to become operational. The retail giant also plans to launch around 49 outlets in India by the year 2020.

As a part of their extension plans, Walmart has also recently signed a deal with the Telangana Government to set up 10 stores in the State. The Indian arm, which is a wholly owned subsidiary of Wal-Mart Stores Inc., opened its first store in Amritsar, Punjab, in 2009.

Leave a Reply

Your email address will not be published.