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Wal-Mart to open 50 stores in India
Publication Date : 09-04-2014
Deciding to focus on the cash-and-carry segment of the market in India, U.S. retail giant Wal-Mart plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country.
About six months after breaking up with Bharti Group, the Bentonville-based firm today said it was also strengthening compliance procedures following investigations into alleged corruption involving its Indian arm.
“Wal-Mart is committed to India and we are excited about our growth plans. We will continue to focus on the cash-and-carry format as we are very happy with the way it has shaped up in the last few years,” Walmart Asia president and CEO Scott Price said.