Walmart to open 10 cash-and-carry stores in Telangana
Retail giant Wal-mart India Pvt. Ltd, signed a MOU with the government of Telangana to set up 10 cash-and-carry stores across the state in the next 5 years. The company, which currently has 21 operational stores in India, will also open another 50 stores during the same period. From the 10 stores, four of them will be set-up in Hyderabad, while the others will come up in districts of Karimnagar, Nizamabad and other places. The company will invest $10-12 million per store. Wal-mart’s forte is to start new stores in tier 2&3 cities or small places. The state government will soon establish farmer organisations. Nearly 97% of what Walmart sells at its stores is locally procured.