Walmart, through its Indian Joint Venture Bharti-Walmart for cash-an-carry outlets, will be investing close to $ 240 million in 2012, to open 12 to 15 wholesale outlets, in addition to the 17 that are already up and running. Metro, the German retail giant has added two more wholesale outlets this year already, to add to the tree opened in 2011. Carrefour which operates two cash and carry outlets is to open one more. Booker has aggressive plans as well: with three stores and plans for 20 in the next five years, this UK based retailer is staying on course with its expansion plans despite the general slowing down of the economy.
More significant than these current year plans, is the growth sentiment expressed by the Indian operational chiefs of these global majors. This is significant in the context of their expectancy on the opening up of the total retail sector in India, which has continued to experience hiccups. To quote these business heads, in the Business Standard’s article on the subject:
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The retail industry is the poster child of the growth that is expected to happen in the Indian Consumer Story- the retail industry is an opportunity worth $ 500 billion, of which the cash and carry business opportunity is worth $100 billion. Consumer food brands, packaged goods, retail infrastructure like transportation and logistics, cold chains and such are the related opportunities that medium sized Canadian and US companies should act upon.
To read the complete story in the Business Standard: India expansion on for global cash & carry chains.
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Thanks. Will keep in mind.