Bangalore, May 29: Wal-Mart, world's leading retailer is all set open its first cash-and-carry store is all set to open on Saturday, May 30 in India.
The US discount chain has teamed up with Bharti Enterprises, parent of India's biggest mobile firm Bharti Airtel, in a wholesale joint venture to be called Best Price Modern Wholesale. Each store would have a size of 50,000-1,00,000 square feet.
The first outlet is set to open in Punjab. Raj Jain, the Chief Executive of Wal-Mart India said, "India is first of all a country with close to 1.2 billion people and a strongly growing economy which is driven by personal consumption. "There's a need to start out on a learning curve with the Indian consumer and this is the first significant step in that direction," he added.
Raj Jain, managing director and CEO of Bharti Wal-Mart and Rajan Bharti Mittal, vice chairman and managing director, Bharti Enterprises would inaugurate the first cash-and-carry wholesale store.