Bharti, Wal-Mart: joint venture in full force

NEW YORK Wal-Mart and Bharti Enterprises joint retail venture in India is still in full force, despite protests from small traders. According to Reuters, Wal-Mart's India operations head, Raj Jain said in an interview Monday, "I think it's a big change for India, the move from mom-and-pop to organized retail. I think most people understand that it is a necessary evolution which has to go through for everybody to benefit from and for the economy."

Wal-Mart and Bharti first announced their plans for a joint venture in early August. The Bharti Wal-Mart Private Limited is expected to open its first store by the end of next year. The store will sell groceries, consumer appliances and fruits and vegetables to retailers and small businesses.