Walmart to open new cash and carry store in Agra

Walmart, after a gap of two years, will open a new cash and carry store in Agra as it returns focus on India.

The US-based retail major, which opened its last store in Bhopal towards the end of 2012, has said it will focus on cash-and-carry business in the country in the absence of clarity on foreign direct investment (FDI) in multi-brand retail trade.

"Walmart is committed to India and we are focused on our growth plans... We have recently received all internal approvals for opening a new store in Agra, our second one in the city," the company's spokesperson told PTI.

Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year, the spokesperson added.

American retail major Walmart runs 20 cash and carry stores, under the Best Price brand, across 9 states.

Earlier in 2014, Walmart announced plans to open 50 wholesale stores in the next 4-5 years to expand its footprint across the country.

The retail chain, however, did not reveal investment details or its plans for further expansion.

Walmart will also extend its online platform in all its stores in 2015.

The company operates B2B e-commerce platform in four cities in India - Lucknow, Hyderabad, Guntur and Vijayawada.

"We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015," Walmart said.

Calling off 6-year partnership with Bharti Enterprises in October 2013, the American company had decided to operate stores independently in the country.