Economic Times says Walmart to enter indian markets. But the timeline isnt decided yet. India will have more unemployed ppl as a giant like Walmart with so much cash at hand could raze local sellers. But it would generate few employment.
BANGALORE: The world’s largest retailer Wal-Mart is moving a senior official from its headquarters in Bentonville, Arkansas to head its market research and business development functions pertaining to its retail plans in India.
Lance Rettig will be responsible for building a team that will prepare the ground for Wal-Mart’s local foray when foreign direct investment (FDI) is allowed in general merchandise retailing.
In its edition dated February 2 ET had reported about Wal-Mart filing an application with the Reserve Bank of India (RBI) to set up a market research and retail business development office in Bangalore. “Mr Rettig will be coming from our Bentonville home office where he is helping to lead our market research office regarding the retail market in India,” a Wal-Mart spokesperson told ET