Wholesale retailer Bharti Walmart plans to invest INR104 crore (INR1.04 billion, USD19.1m) this year in expanding its outlets across India.
The US retail chain Walmart and New Delhi-based Bharti Enterprises joint-venture company has raised these funds last year, they said in a filing to the Registrar of Companies.
Having doubled its store count to 10 outlets in 2011, the cash-and-carry major has added two stores in the last six months. In all, Bharti Walmart has about 17 stores in the country. Simultaneously, the company has been investing in logistics and improving its back-end supply chain system.
(Source: The Hindu Business Line )