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Walmart to open 50 new stores in India soon; 10 of them in Telangana

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Walmart currently has 21 stores in India, including one in Hyderabad

IANS  |  Hyderabad  April 29, 2017 Last Updated at 17:58 IST

Global retail giant will set up 50 new stores across India over the next three to four years, a top company official said on Saturday.

The new stores would include 10 in Telangana, for which the US retailer signed a Memorandum of Understanding (MoU) with the state government.

It will invest $10 to $12 million in each store, which would create direct and indirect employment for 2,000 people.

currently has 21 stores in India, including one in Hyderabad.

executives and Telangana government officials signed the MoU in the presence of state Industries Minister K.T. Rama Rao, President and CEO, Canada and Asia, Dirk Van den Berghe and President and CEO India, Krish Iyer.

Talking to reporters on the sidelines, Rajneesh Kumar, Senior Vice President and Head Corporate Affairs, India, said their focus in South India would be on Telangana and Andhra Pradesh.

The company has already signed a MoU with Andhra Pradesh.

In north India, is focusing on Uttar Pradesh, Haryana and Punjab. It already has MoUs with Haryana and Punjab.

Maharashtra is another state that will be focusing on for its expansion plans.

Krish Iyer said four of the 10 new stores planned in Telangana would come up in Hyderabad.

is looking at tier-II cities like Warangal, Karimnagar and Nizamabad to open the new stores.

Walmart to open 50 new stores in India soon; 10 of them in Telangana

Walmart currently has 21 stores in India, including one in Hyderabad

Walmart currently has 21 stores in India, including one in Hyderabad

Global retail giant will set up 50 new stores across India over the next three to four years, a top company official said on Saturday.

The new stores would include 10 in Telangana, for which the US retailer signed a Memorandum of Understanding (MoU) with the state government.

It will invest $10 to $12 million in each store, which would create direct and indirect employment for 2,000 people.

currently has 21 stores in India, including one in Hyderabad.

executives and Telangana government officials signed the MoU in the presence of state Industries Minister K.T. Rama Rao, President and CEO, Canada and Asia, Dirk Van den Berghe and President and CEO India, Krish Iyer.

Talking to reporters on the sidelines, Rajneesh Kumar, Senior Vice President and Head Corporate Affairs, India, said their focus in South India would be on Telangana and Andhra Pradesh.

The company has already signed a MoU with Andhra Pradesh.

In north India, is focusing on Uttar Pradesh, Haryana and Punjab. It already has MoUs with Haryana and Punjab.

Maharashtra is another state that will be focusing on for its expansion plans.

Krish Iyer said four of the 10 new stores planned in Telangana would come up in Hyderabad.

is looking at tier-II cities like Warangal, Karimnagar and Nizamabad to open the new stores.

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IANS

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