Tuesday, May 15, 2012: 08:59:33 PM

NATIONAL News

Bharti Walmart to Enter Southern Market




Bharti Walmart is keen to invest in Southern India and explore the regionís available business options. After successful business ventures across the Vindhyas in Andhra Pradesh and Maharashtra, the organisation wants to broaden its reach in the Karnataka market. Bharti Walmart approached the Chief Minister (CM) of Karnataka for initial discussions; the CM earlier held a road show in New Delhi to seek investments for the upcoming Global Investors Meet (GIM) scheduled for June 7 and 8. Bharti Walmart has already planned to open 10 ñ 12 stores by 2012; the business effort is flanked by two other global retail operators extending their reach in Northern India. Recently, German retail chain Metro opened its business venture in Delhi, while French Retailer Carrefour plans to enter Agra and Meerut.

The future prospects for investing in Karnataka seems very promising for retail investors. Also the state hopes to attract an investment of `6 lakh cr. in the GIM this year. The previous edition of the investors meet in 2010 generated investment commitments of some `3.92 lakh cr. Concerning the stateís future business prospects, 36 investment proposals had already taken off and were in various stages of implementation, while another 250 were in the pipeline.


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