Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2013-10-18

Wal-Mart’s Scott Price to meet Anand Sharma over sourcing norms

Wal-Mart\\\'s Asia chief Scott Price will meet Commerce and Industry Minister Anand Sharma on November 1 following the break-up of the US retail giant\\\'s partnership with Bharti Enterprises.

Wal-Mart's Asia chief Scott Price will meet Commerce and Industry Minister Anand Sharma on November 1 following the break-up of the US retail giant's partnership with Bharti Enterprises.

 

After the government allowed 51 per cent foreign direct investment in multi-brand retailing in September last year, Wal-Mart had expressed inability to meet a norm on sourcing 30 per cent of its requirement from local small industries.

 

While the US company has sought clarifications on the sourcing requirement, the Department of Industrial Policy and Promotion, a wing of the Commerce Ministry, has said there is no plan to relax the norm.

 

"They have sought a meeting with me. He is meeting on November 1," Mr Sharma told reporters on Thursday.
 

Bharti Enterprises and Wal-Mart on October 9 announced the ending of their six-year partnership to operate in the Indian retail sector.

 

Wal-Mart will buy out its partner in their 50:50 cash-and-carry joint venture, Bharti Walmart, which runs 20
 

Best Price Modern Wholesale stores in the country, for an undisclosed sum. Bharti will continue to run its 'Easyday' retail stores on its own.
 

The two companies joined hands in 2007 and started their first wholesale store in Amritsar in May 2009.

 

Related opportunities
  • Furniture/Home Decor & Furnishing
    About Us: Launched in 2014, HomeLane India Private Limited offers end-to-end Home..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2016
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bengaluru Karnataka
  • Tea And Coffee Chain
    About Us: If you are looking for a solid business opportunity..
    Locations looking for expansion Delhi
    Establishment year 2010
    Franchising Launch Date 2010
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Online Food Ordering Services
    About Zomato : Founded by Deepinder Goyal in 2008, Zomato is..
    Locations looking for expansion Delhi
    Establishment year 2004
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Online Food Ordering Services
    About Us: Food On Way is the FOOD DELIVERY OUTLET (cloud..
    Locations looking for expansion Gujarat
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts