US company Walmart has made a big announcement just one day after buying a whopping 77 percent stake in Flipkart for about Rs 1 lakh crore. Wal-Mart Inc. said on Thursday that it will continue to grow the wholesale cash and carry business and will open 50 new stores in India in the next 4-5 years.
Walmart India President and CEO Krish Iyer told in a roundtable conversation that we now have 21 stores. Our plan is to open 50 stores in 4 to 5 years. Our plan is on the track. Let me tell you, Aiyar called this roundtable meeting to discuss the Flipkart Deal in detail.