Walmart to open 10 cash and carry stores in Karnataka

Retail giant Walmart India on Thursday announced it had signed an agreement with Karnataka government on Thrusday to set up 10 cash and carry stores in the state.

"Today (Thursday), we signed an agreement with Karnataka government to open 10 cash and carry stores in Karnataka," said compnay's CEO Krish Iyer at panel discussion 'Promoting Women Entrepreneurship' at the Invest Karnataka 2016 Global Investors Meet (GIM).

Citing Walmart's goals of promoting and encouraging women entrepreneurs in a big way, he invited them to approach Walmart team for evaluation to enroll as a vendor.

"We are running a women entrepreneurship development programme on demand and supply side. Demand side includes developing women entrepreneurs who can open kirana stores or small hotels, restaurants and dhabas to whom we will supply at low costs," he said.

Supply side opportunity is much bigger at Walmart where it already sources merchandise from 30 women-owned businesses and services from 35 women-owned businesses.

In 2011, Walmart launched the global Women Economic Empowerment Programme aimed at doubling the current $20 billion worth merchandise sourcing from women entrepreneurs across the globe.

Iyer said other important global goals for Walmart are to promote diversity and inclusion in the existing supplier mix from both merchandise and professional services and empower nearly one million women globally.