6 August 2007 — New Delhi (IND): Wal-Mart Stores and Bharti Enterprises in India have set up a JV, creating Bharti Wal-Mart Private Ltd.
The new company will be run on a cash-and-carry basis and will provide back-end supply chain management. Over the next seven years, Bharti Wal-Mart will open between ten and 15 cash-and-carry outlets, creating as many as 5,000 jobs.
It is understood that the first store will be located in the north of the country and will sell a range of groceries and consumer appliances sourced by Indian suppliers.
Raj Jain, president for Wal-Mart’s India operations, said: "One of the key reasons for Wal-Mart’s international success is that in every location where we operate, we are local."
Bharti’s chairman Sunil Mittal said: "We are pleased to be a partner in developing this sector which is set to become a significant engine of India’s economic growth."