Report: Wal-Mart looks to open first India store within 18 months
New Delhi, India -- A Friday report by the Wall Street Journal disclosed that Wal-Mart Stores Inc. expects to open its first retail stores in India within the next 12 to 18 months.
In an interview with WSJ, Scott Price, Asia president and CEO of Wal-Mart, said that the retailer has not pinpointed where the first stores will be located or ultimately how many there will be. But the latest decision handed down by the Indian government allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.
Price told WSJ that the company expects to continue its current partnership with India's Bharti Enterprises in a chain of 17 cash-and-carry stores, but it is not in discussions with any other companies for a potential retail partnership.