Walmart eyes $300-mn investment by 2020

US-retail giant will expand in India by opening 19 new stores by 2020; technology centre in Bengaluru also expanding role and headcount

Walmart's India Push

US-retail giant Walmart is gearing up its India presence by expanding store strength from the current 21 to 70 by 2020. For this expansion the company will invest $240 million to $300 million. “We have a cash & carry model and the growth has been good for us. We intend to raise the numbers from 21 presently to 70 by 2020. Each store takes nearly two-three years to set up and needs an investment of $8-10 million. These will create nearly 2,000 direct and indirect jobs,” said Rajneesh Kumar, vice-president & head, corporate affairs, Walmart India. Walmart’s technology ...