Wal-Mart, the world's largest retailer, is reportedly looking to the emerging markets of Russia and India to fuel growth.

According to a report in the Financial Times, Wal-Mart is embarking on a round of international expansion following an overhaul of its business.

Wal-Mart confirmed to just-food that it has a team on the ground in Russia, which is described as an "interesting market".

The group is also preparing to open a retail chain in India under a joint venture agreement with Bharti Enterprises.

"We are constantly looking for ways that our business can grow and develop," a spokesperson for the US retail giant told just-food.