Walmart plans to open retail outlets in India in the next 12 to 18 months, the company said Friday, making it the first multinational to jump on the government’s decision to open the country’s huge retail market to foreign players.
Raj Jain, the managing director of Bharti Walmart, confirmed by email that Walmart plans to open stores that serve consumers over the next 18 months, but declined to say how many.
India announced last week that it would allow foreign firms to take a majority stake in multi-brand stores for the first time.
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