Global Retailer Wal-Mart Sets Up New Company In India

New Delhi: Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country’s lucrative multi-brand retail market with a new partner.

The American retail major and Bharti Enterprises decided to part ways in October last year, bringing an end to their six-year long partnership.

The retailer has registered a new company called Wal-Mart India Pvt. Ltd. in the country, according to the data available with the ministry of corporate affairs.

According to the information, the new entity was registered on 15 January 2014.

After parting ways with Bharti group in October last year, Wal-Mart had said it was studying the feasibility of India’s foreign direct investment (FDI) policy in multi-brand retail before finalising plans to enter the segment.

The retailer and Bharti Enterprises had last year decided to independently own and operate separate business formats in the country. Wal-Mart is looking for a partner in India.

In December 2013, Wal-Mart received the green signal from the Competition Commission of India (CCI) to purchase Bharti group’s almost 50% stake in their Indian joint venture for wholesale stores business.

The joint venture—Bharti Wal-Mart Pvt. Ltd.—was set up to operate wholesale stores under the Best Price Modern Wholesale brand. It was not catering directly to retail consumers in the country.
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