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Wal-Mart Sets Sights on India

Retail behemoth teams up with local biz, hoping to get piece of $300B market

By Dustin Lushing,  Newser Staff

Posted Aug 7, 2007 3:18 PM CDT

(Newser) – Wal-Mart will set up shop in the lucrative Indian market for the first time, the Times of London reports. In collaboration with Indian mobile phone company Bharti, the American retail giant will sell wholesale goods to small shops, restaurants, and other businesses. The first "Bharti Wal-Mart" stores are expected to open by 2009 and are already drawing fire.

The lure is India's $300 billion retail market, which is projected to nearly triple in size by 2015. Wal-Mart's vice chairman says the venture is "in line with our global vision of saving people money so they can live better,” but opponents say the megastore will squash small-scale retailers, which employ 40 million Indians.

Bharati Enterprises Managing Director Rajan Bharti Mittal, left, poses with Country President Wal Mart Raj Jain at a press conference in New Delhi, India, Monday, Aug. 6, 2007. Bharati Enterprises and Wal Mart signed an agreement Monday for a joint venture Bharti Wal-Mart Pvt. Ltd. for wholesale cash-and-carry and back-end...
Bharati Enterprises Managing Director Rajan Bharti Mittal, left, poses with Country President Wal Mart Raj Jain at a press conference in New Delhi, India, Monday, Aug. 6, 2007. Bharati Enterprises and...   (Associated Press)
Wal-Mart Supercenter (Photo
Wal-Mart Supercenter (Photo   (Associated Press)
Shoppers leave a Wal-Mart store Thursday, July 12, 2007 in Bloomington, Minn.  While retailers' hopes for a successful back-to-school shopping season grew dim Thursday, Wal-Mart reported a 2.4 percent gain in same-store sales as its renewed emphasis on low prices helped drive sales gains above analysts' expectations. (AP Photo/Jim...
Shoppers leave a Wal-Mart store Thursday, July 12, 2007 in Bloomington, Minn. While retailers' hopes for a successful back-to-school shopping season grew dim Thursday, Wal-Mart reported a 2.4 percent...   (Associated Press)
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