Walmart to open 10 new stores in Telangana

HYDERABAD: Walmart, the world largest retail chain, will set up as many as 10 stores in a phased manner in and around Hyderabad in the coming five years. A representative of Walmart South Asia Dirk Van Bergh and Walmart India president and CEO Krish Iyer singed an MoU with the Telangana governm-ent on Saturday. Walmart representatives said the retail chain would establish one store each in a space of 50,000 square feet, that would serve at least 3 lakh customers at a time. All the stores would run on ‘Cash and Carry’ basis — the wholesale model. “We shall start one store now, and very soon we shall be operating two more stores here. We are also concentrating on sub-urban and rural areas and will be focusing on Nizamabad, Karimnagar and Khammam districts. Presently, we have 21 stores in India, and are planning to set up 50 stores across the country in the coming five years. Based on the GDP growth in Telangana, we shall plan more stores,” they said.

Minister K.T. Rama Rao said, “Each Walmart store will generate 2,000 jobs. The government will provide all required facilities to Walmart in obtaining approvals. The retail policy of Telangana State, that’s now being framed, will assist such retail stores. Walmart will utilise services of self-help groups and small and medium farmers,” he said. The minister explained to Walmart officials about the functioning of SHGs and Stree Nidhi Banks. principal secretary to the information technology department Jayesh Ran-jan and others took part in the discussions.