Wal-Mart Launches Joint Venture in India
By: Alexa Hamblin
Updated: August 7, 2007
Bentonville-based Wal-Mart Stores Inc. has launched a joint venture for wholesale cash-and-carry and back-end supply-chain management operations in India. The deal with Bharti Enterprises of New Delhi puts Wal-Mart in line with government guidelines in India, which often prohibit foreign businesses from doing business there, officials said. Under the agreement, Wal-Mart and Bharti will hold an equal stake in the new venture - called Bharti Wal-Mart Private Limited. Wholesale cash-and-carry operations provide small retailers and business owners a range of products at competitive wholesale prices.
The joint venture will serve kirana stores, fruit and vegetable resellers, restaurants and other business owners. It also will serve other retailers such as Bharti Retail - which is setting up a chain of stores in India wholly owned and operated by Bharti.
