Walmart is making its entry to the state of Telangana with 10 outlets in Hyderabad and further, it will expand to the other parts of the state in coming 5 years. The Walmart has made the MoU with Telangana State Government concerning the tie-up on Saturday, 29th Saturday. Walmart South Asia Dirk Van Bergh and Walmart India president and CEO Krish Iyer have signed the MoU.
Walmart is Establishing 10 Outlets in Telangana
Walmart is planning to establish the store in 50,000 square feet and also it serve a minimum of 3 lakh customers at a time. The Walmart stores will be constructed on the basis of ‘Cash and Carry’. Walmart offers 2000 jobs per unit and it also offers a great help to small and medium scale farmers.
“We shall start one store now, and very soon we shall be operating two more stores here. We are also concentrating on sub-urban and rural areas and will be focusing on Nizamabad, Karimnagar and Khammam districts. Presently, we have 21 stores in India, and are planning to set up 50 stores across the country in the coming five years. Based on the GDP growth in Telangana, we shall plan more stores,” they said.
Minister K.T. Rama Rao said, “Each Walmart store will generate 2,000 jobs. The government will provide all required facilities to Walmart in obtaining approvals. The retail policy of Telangana State, that’s now being framed, will assist such retail stores. Walmart will utilise services of self-help groups and small and medium farmers,” he said.
Minister KTR has explained the functioning of SHGs and Stree Nidhi Banks to Walmart officials. Principal Secretary to the information technology department Jayesh Ran-jan has also participated in the Walmart meeting.