Blog: Indian retailer steals march on Wal-Mart
Dean Best | 17 August 2007
For all Wal-Mart’s pleasure at setting up its first venture in India, a domestic rival looks to have stolen a march on the US group with ambitious plans to expand throughout the country.
Reliance Retail wants to spend a whopping US$6bn expanding its store network from around 250 to 5,000 outlets in just four years.
Now, Wal-Mart – which earlier this month made its first foray into India with a cash-and-carry deal – is hamstrung by a ban on direct foreign investment in India’s retail sector.
Nonetheless, should Reliance follow through with its plans, Wal-Mart will be faced with a pretty strong competitor if and when government controls on investment are lifted.
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