Next store to come up in 2017, Punjab likely site: Walmart

New Delhi, Oct 11: Continuing with its cautious expansion in India, US-retail giant Walmart will open the next cash and carry outlet only in 2017 and is zeroing in on Punjab for that.

The company, which had opened 21st store in India in August after a gap of over two years at Agra, had stated that it would open 50 wholesale outlets in the country within 4-5 years. "We are working on several (sites) right now.

We have signed quite a few properties. I do expect the next one will be in Ludhiana in Punjab," Walmart India President & CEO Krish Iyer said.

Asked by when the next cash and carry outlet will open, he said: "Currently we are in the process of working out single window clearance with the Punjab government. When all that goes through all that take two years...around the first half of 2017."

Although there is a 'lot of competition' among states for the next store, Iyer said: "I do expect a little bit of headstart in Punjab."

Walmart had paused expansion in India in 2012 when it was investigating violations of the US Foreign Corrupt Practices Act at its Indian arm.

It had also called off a six-year partnership with Bharti Enterprises in 2013 and decided to operate cash and carry stores independently in India.

PTI