Bharti Enterprises to invest 2.5 billion dollars on retailing

Bharti Enterprises to invest 2.5 billion dollars on retailing

Indian telecom giant Bharti Enterprises has announced their plans to invest around 2.5 billion dollars on their retailing plans in the country.

The company is collaborating with retailing industry giant Wal-Mart to start a chain of retail stores in India.

Company’s joint managing director Rajan Bharti Mittal said in a statement: “After revolutionizing the Indian telecom sector, retail will be the next big focus area for Bharti. The investment would be between two and 2.5 billion dollars.”

The company aims to open stores in all Indian cities with a population of more than one million.

Bharti had originally tied up with Wal-Mart for this project. These new stores would be owned by Bharti and would be run under a Wal-Mart franchise.

The company said that the stores would have them managing the front-end while Wal-Mart would take care of the back-end, including logistics and supply. They would hire as many an estimated 60,000 new people.

Reliance is another Indian giant which is expanding majorly in the retailing market. Subhiksha is an existing player which has increased their activities in the northern states.