Don’t mind selling only Made-in-India products, says Walmart India CEO
Advertisement
Arkansas-based Walmart Stores Inc, world's biggest retailer in terms of sales, is ready to do business in India by opening brick and mortar outlets and selling products online if the government allows overseas supermarkets that directly sold Made-in-India products.
"We are okay with selling only 'Make in India' products because even in our cash-and-carry stores, imported items make up for only 5% of our total products," Krish Iyer, Walmart India CEO, told ET.
Also read: Walmart Extends B2B Online Wholesale Platform In Andhra Pradesh
Iyer added since more than 95% products are locally sourced, they are already partnering with the government in making Make-in-India initiative a success.
As reported earlier, the government of India has allowed 100% foreign direct investment in food ecommerce, and would also open the avenues for grocery retailing industry if they sold goods sourced and produced locally.
Walmart, which plans to open 50 new stores in India in the coming years, operates 21 such stores as of now.
(Image source: Walmart News Now)
Advertisement
"We are okay with selling only 'Make in India' products because even in our cash-and-carry stores, imported items make up for only 5% of our total products," Krish Iyer, Walmart India CEO, told ET.
Also read: Walmart Extends B2B Online Wholesale Platform In Andhra Pradesh
Iyer added since more than 95% products are locally sourced, they are already partnering with the government in making Make-in-India initiative a success.
As reported earlier, the government of India has allowed 100% foreign direct investment in food ecommerce, and would also open the avenues for grocery retailing industry if they sold goods sourced and produced locally.
Advertisement
(Image source: Walmart News Now)
Advertisement
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market