Lucknow : US retail major Walmart will open 20 wholesale cash-and-carry stores in India in the next three years, a top company official said on Monday. Besides, the company, which opened its second fulfilment centre here, is also in the process of opening more such centres to cater to online business-to-business (B2B) customers to tap the fast growing e-commerce in India.
“We will launch two stores this year and eight stores next year and 10 stores a year after that,” said Walmart India President and CEO Krish Iyer. Walmart has plans to add 50 stores in next five to seven years, he added.
CAIT to move SC Meanwhile, traders’ body CAIT on Monday said it will approach the Supreme Court if the government allows the Walmart-Flipkart deal to go through.
Confederation of All India Traders (CAIT) said its legal team is ready to knock the doors of the apex court if Walmart’s $16 billion deal to acquire homegrown online retailer Flipkart is allowed as it will hurt traditional retailers.
“Traders are extremely unhappy over the Walmart-Flipkart deal. This deal is definitely going to hurt them a lot,” Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said.
