Wal-Mart and Bharti to open up retail stores in India

Wal-Mart and Bharti to open up retail stores in India

India would soon get their own chain of retail stores from Wal-Mart. World’s leading chain of retail stores Wal-Mart has teamed up with Bharti Enterprises Ltd. which is currently the largest private player in the telecom sector in India.

The two companies would together set up hundreds of stores across the country as per information released by Sunil Bharti Mittal, chairperson and CEO of Bharti.

He said: “We have signed a MoU (memorandum of understanding) for a joint venture and a franchise agreement.”

He did not reveal much on the financial details of their agreement but added that the deal will be a partnership of equals.

Mittal added: “Wal-Mart was keen to get into India. I think they have chosen the right partner. It is going to be a large investment … We are going to be a big player in this market.” With this, Bharti is going to take on Reliance heads on as they are also entering into the retail market in India in a big way. Bharti Wal-Mart vs. Reliance Retail would be an interesting battle to watch.