Walmart to set up 10 outlets in Telangana

Walmart to set up 10 outlets in Telangana
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Global retailer, Walmart will invest about $100-120 million in Telangana in setting up 10 new cash and carry stores over the next five to seven years, the company’s India President and CEO Krish Iyer said on Saturday.

To open 50 new stores across India

Hyderabad: Global retailer, Walmart will invest about $100-120 million in Telangana in setting up 10 new cash and carry stores over the next five to seven years, the company’s India President and CEO Krish Iyer said on Saturday.

Walmart executives and Telangana government officials signed the MoU in the presence of TS Industries Minister K T Rama Rao, President and CEO, Walmart Canada and Asia, Dirk Van den Berghe and Krish Iyer.

Four of them will come up in Hyderabad, the capital city that hosts the lone facility of Walmart in the State. Typically the investment will $10-12 million per store, Iyer said at the signing of an agreement with the State government here.

Warangal, Karimnagar and Nizamabad, among tier-II and III cities, are locations where other stores are to be set up in Telangana. Job opportunities, direct as well as indirectly, for 2,000 people would be created by each store, he added. The size of the stores is in the range of 50,000-60,000 sq ft each.

For Walmart, Telangana and Andhra Pradesh in south India, Punjab, Haryana and Uttar Pradesh in the north and Maharashtra are the focus States for expansion. It plans to add 50 more facilities thus taking the number of wholesale stores in the country to 71 in the next 5-7 years.

“We are ready for rapid growth of our business... look forward to working with small mom and pop shops, SMEs,” Iyer said.

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