Bharti Walmart Won't Wait For All States to Let Retail FDI
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Bharti Walmart Won't Wait For All States to Let Retail FDI

Thursday, 27 September 2012, 12:28 Hrs   |    1 Comments
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New Delhi: Bharti Walmart will not wait till all states in India allow FDI in multi-brand retail to roll out its plans and may start opening its outlets from states like Maharashtra and Andhra Pradesh, a top official of the retail giant said.


Bharti Walmart Managing Director and CEO Raj Jain said the company will be able to come out with specific plans with regard to retail business only after 45 days as it is currently studying the government notification.

Also read: Walmart ready for Indian biz; to seek approvals soon: CEO

The company is a 50:50 joint venture between Bharti Group and US-based Walmart for wholesale cash and carry.

"I think there are enough states and big states like Maharashtra and Andhra Pradesh which have expressed their willingness to allow FDI.

"I think those states are big enough to start our plans (for retail)," Jain told a press conference.

Recently, the government had allowed 51 percent FDI in multi-brand retail but left it to the states to permit opening of foreign funded stores.

Such stores would be allowed to be opened only in cities with a population of over one million. A foreign retailer would need to invest a minimum of USD 100 million, of which 50 percent must be on back-end infrastructure within a period of three years of the commencement of the overall investment.

"It is only nine days since the FDA is opened in eight states. It is too early for us to share any clarity or details on our retail plans. We are studying the policy. It will take 45 days to come out with plans, Jain said in reply to a question.
Source: PTI
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Reader's comments(1)
1: ARE THE INDIANS SO INCOMPETENT THAT THEY NEED FOREIGNERS TO PUT UP DEEP FREEZERS, ROAD NET WORK, SUPPLY & DISTRIBUTION CHANNELS IN RURAL INDIA?

THESE VERY INDIANS ARE RUNNING AUTOMIBILE PLANTS, LUXURY HOTELS, MID-SIZE HOTELS, SOFTWARE & INFRASTRUCTURE SUPPORT TO BIGGEST BANKS & MERCHANT BANKS OF THE WORLD.

SOME THING IS WRONG SOME WHERE THOSE WITH VESTED INTEREST ARE SELLING INDIA TO FOREIGNERS BY GIVING THEM CONTROL OF THEIR FOOD SUPPLY, MANUFACTURING & EVEN MANUFACTURING OF THEIR RELIGIOUS IDOLS.

INDIA ADOPTING US ECONOMIC POLICIES TO SLAUGHTER MAIN STREET

India has blindly adopted the American Economic Policies, without taking into account America a one time Super Power is barely crawling and can’t even walk under the load of these Anti-common people and Pro 1% Rich policies.

Today America has 50 mil people on Food Stamps, 20 mil unemployed, 30 mil under-employed, 16 mil children facing hunger, 1.5 mil homeless youth and 70 mil with no health insurance. Above all $16 Trillion external debts, $4 Trillion state government debt and $175 Trillion in unfunded liabilities. Today if you sell every American’s assets the total that can be realized is $78 trillion!

DISTRIBUTION OF WEALTH IN AMERICA UNDER PRO RICH ECONOMIC POLICIES

Bottom 50% owns 2.5% of the Nations Assets, 40% owns 26%, Assets, 9% owns 37.8% assets and top 1% owns 33.7%. In other words top 10% owns 41.5% of US assets.


The six heirs to the Walmart fortune are worth as much as nearly half of all American households. The Walton family was worth $89.5 billion in 2010, the same as the bottom 41.5 percent of U.S. families combined, according to Josh Bivens of the Economic Policy Institute. That's 48.8 million American households in total.

SHRINKING WORKERS WAGES & RISING CEO SALARIES
Workers wages in USA has Dropped 14.4% SINCE 1945 and on the other hand CEO salaries has gone up by 1400% in the same period.

30% employed in private sector of America are making less than $10/hour in other words not making “LIVING WAGES”. The National Minimum wage has lost 30 percent of its purchasing power since 1968 as per NFLP report.

A TYPICAL WALLMART STORE EMPLOYS 350 PEOPLE

Out of that 320 are min. wage earners or $10/hr earner.

10 are managers and 20 are Supervisors.

98% of the stuff sold in Walmart is Made in China.
The minimum wage earners in America are not making the "Living Wages" that can take care of their families. That is the reason they are on Food Stamps and other welfare schemes run by Federal & state governments.

In America 30% of the jobs in Private Sector are paying $10/hr that can not provide sustainability to a family. So these earners are not making "Living Wages"; they need assistance to survive.

If India wants to give a bost to Chinese Economy & bost in the number of employed people on Welfare THEN THEY SHOULD WELCOME WALMART & ITS COUNTERPART FROM AROUND THE WORLD.
Posted by:Dave Makkar - 27 Sep, 2012
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