Wal-Mart Opens First India Wholesale Outlet

ERIKA KINETZ

MUMBAI, India (AP) — India just got its first Wal-Mart.

Bharti Wal-Mart Private Ltd., a joint venture between India's Bharti Enterprises and Wal-Mart Stores Inc., opened its first wholesale outlet called "Best Price Modern Wholesale," in Amritsar in the northern state of Punjab on Saturday.

The company plans to invest $100 million over the next three years to open 10 to 15 more wholesale outlets, which would employ 5,000 people across India.

"We have put in a lot of planning and preparation over the past 12 months and are delighted that all the hard work will now bear fruit as we open the doors of our first cash-and-carry store in India," Chief Executive Raj Jain said in a statement. "We will generate significant job opportunities ... and we have been working closely with local suppliers to develop a sustainable and efficient supply chain."

The opening comes at a politically crucial time for foreign firms eager to tap India's $430 billion retail market. The entry of big-box players in India has been controversial because small, mom-and-pop "kirana" shops are such an important part of the local economy. Many fear they'd be decimated if big players like Wal-Mart are allowed unfettered access to the Indian market.