Report: Walmart ‘evaluating’ food retail in India

Wal-Mart Stores is still considering a possible entry into the food retail market in India.



With new rules allowing for 100% foreign ownership of food retailers selling goods produced in India, Krish Iyer, the president and CEO of Wal-Mart India, a wholly-owned subsidiary of Wal-Mart, said the chain is “evaluating” the guidelines, reported The Economic Times. His answer came in response to a question as to whether Walmart was planning on entering the market.



Currently, Walmart India operates in the wholesale segment, and has 21 cash and carry stores in the country. It plans to increase the number to 50 by 2021, according to the report.



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