Walmart to open 10 stores in Punjab

Vijay C Roy

Tribune News Service

Chandigarh, June 8

Walmart India, a wholly-owned subsidiary of Walmart Stores, will open 10 stores in Punjab in the next 3-4 years for which it has already signed a Memorandum of Understanding (MoU) with the state government. The company is likely to invest $10 to $12 million in each store.

Currently, it is operating five stores in Punjab spread across Amritsar, Ludhiana, Jalandhar, Bathinda and Zirakpur.

“Punjab is an important market for us. We have already signed an MoU with the state government for opening 10 stores. We will add more stores in the cities where we are present as well as contemplating those at new locations like Patiala,” said Rajneesh Kumar, Senior Vice-President and Head, Corporate Affairs, Walmart India.

Across India, the company is planning to set up 50 new stores over the next 3-4 years. The new stores will be opened in Haryana, Uttar Pradesh, Maharashtra, Andhra Pradesh, Telangana etc. Currently, the company owns and operates 21 best price modern wholesale stores offering nearly 5,000 items in a cash and carry wholesale format.

Rajneesh Kumar said that they are working with small resellers and kiranas diligently to be 100 per cent GST-ready in time. “We remain committed to helping the partners in the whole process for a win-win and smooth transition to the new tax regime,” he said.