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Bharti Wal-Mart to open first facility in Punjab
| August 10, 2008 |  (2 votes, average: 5 out of 5) Loading ... |
The joint venture Bharti Wal-Mart Private Limited is set to introduce the wholesale cash-carry concept to India. The first facility is expected to take off from Punjab by the first quarter of 2009. The typical facility will stand between 50,000 and 1, 00,000 square ft and will sell wide range of fruits, vegetables, groceries, staples, stationery, clothing, consumer durables and other general merchandise items. The chain will enable minimum wastage, particularly food and fresh goods. The JV has already set up a distribution centre spread over 1, 00, 000 sq ft in Banur from where goods will be supplied to the nearest facility.
Being tight-lipped over the selection of the place for first cash and carry facility Raj Jain, managing director and CEO, Bharti Wal-mart Private Limited just said the company would commence its operations from the north only.
Talking about the Wal-Mart economics in India, Raj Jain said, “Our aim is to provide best quality products at cheaper prices in India. Wholesale cash and carry operation will provide a wide range of products to small retailers and business owners. The JV will serve Kirana stores, fruit and vegetable resellers, restaurants. The venture will invest in setting up an efficient chain and will support farmers, small manufacturers who have limited infrastructure and distribution strength. We will also help our suppliers to get easy access to finance from banks. The supplier will get the certificate from Wal-Mart, which will help them to avail the loan. But we will not stand as a guarantee if a particular supplier fails to repay the loan”. Raj Jain said, “Wholesale cash carry is new concept in India and there are various challenges like bringing new technology here.”
This venture is surely going to encourage similar foreign direct investment efforts in the future.
News Published Under: Real Estate India |
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