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India no super market for Walmart

Sources say company unlikely to apply for its first retail licence before March 2015

Reuters  |  Mumbai 

Walmart’s India expansion is stalled. When India announced last September it would allow foreign supermarket chains to take majority ownership of their local operations, it marked a victory for Walmart Stores, which had spearheaded efforts to open the market and said its first retail store would open within two years. Now, two sources within the Bentonville, Arkansas-based company’s Indian unit say it is unlikely to apply for its first retail store licence before March 2015. The company has said it needs a further 12 to 18 months after winning government approval to open each ...

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First Published: Sat, July 13 2013. 21:46 IST