Walmart Restarts Wholesale Expansion in India, 50 New Stores by 2020

Walmart (WMT) is restarting its wholesale expansion in India, the second-biggest consumer market in the world. Walmart opened its first wholesale store since 2012 on Wednesday. The expansion is part of a plan to more than triple Walmart’s presence in the country. The company says it's on track to open 50 Best Price Modern Wholesale stores within the next four to five years, adding up to a total of 70 locations throughout India. Walmart says it’s shifting its focus to the B2B segment. The majority of the retailer’s customers in India are owners of businesses themselves. They include the traditional mom-and-pop grocery stores that sell most of India's food. The Best Price Modern Wholesale store stocks roughly 5,000 items, including a range of fruits, vegetables, dry groceries, personal goods, home care items, and other general merchandise. However, not everyone is on board. Some on Wall Street think Walmart should focus on getting its U.S. business in order before expanding overseas. TheStreet's Kurumi Fukushima reports in New York.