Walmart has arrived in India. And it goes to Amritsar, Punjab. Walmart has joined hands with Bharti Enterprises in this venture. The store is spread over 50,000 Sq ft and has cost around $6-7 million. It was opened on Saturday to the public.
It will carry between 5,000 to 6,000 SKUs in the store. Another store will open in Punjab by the end of this year. The first phase of expansion will happen in North India – starting from Punjab. Then it will open in Haryana, Delhi, UP and Madhya Pradesh.
It will buy goods from 800 local suppliers and it has signed up over 30,000 clients for its wholesale business.
Walmart has had its share of controversies in the US already – where it is known to destroy the local businesses due to its high efficiencies. While the consumers benefit, the small businesses and retailers locally die away finally. I am sure many people are happy at the new development, but it is unclear what the long term effects of this may be. Only time will tell. What do you think?
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