India’s Bharti Enterprises, which plans to launch a joint venture retail chain with US giant Wal-Mart, has said that it will invest as much as US$2.5bn in the project by 2015.
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“After revolutionising the Indian telecom sector, retail will be the next big focus area for Bharti. The investment would be between US$2bn and US$2.5bn,” joint managing director Rajan Bharti Mittal told a news conference.
Bharti Enterprises said that it aims to operate outlets in all Indian cities with a population of 1m plus. It is expected to take responsibility for front-end operations, while Wal-Mart will deal with the logistical side of the business, including management of the supply chain.
In contrast to Bharti’s outspoken approach, Wal-Mart has remained reticent on its plans for the Indian market. “At this time we are congratulating Bharti and wishing them the best in their plans. They have brought a lot of consumer knowledge to the project,” Angela Hoffman told just-food this afternoon (19 February). “At this time we are not making our plans for the Indian market or the level of investment we are committing public,” she added.
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