2010-10-27

Walmart chain to boost SMEs

More retail of Walmart to help SMEs

Walmart chain to boost SMEs

Opening up foreign direct investment (FDI) in the multi-brand retail sector will create new opportunities for India's Small and Medium Enterprise (SME) sector,  said Walmart CEO, Mike Duke in New Delhi on Tuesday.

"The global retail partners with India can help create opportunity for small and medium enterprises. SMEs are the backbone of this economy. They produce, export and employ," Duke said in an interactive meet organized by FICCI in the national capital.

At present, India's $450-billion retail sector, which comprises primarily small stores providing livelihoods for hundreds of thousands people, is largely closed to foreign firms.

According to recent news reports, however, the government is divided on retail FDI; while the Finance Ministry is opposed to any change in the existing retail FDI policy, the Agriculture and Consumer Affairs Ministries, and the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry.

Commenting on Walmart's current operations in India, Duke said that the company is working hand in hand with a woman-owned SME called 'Spicy Treat Pickles' based in Punjab where they have provided this SME with improved standards in their production facility and trained their workforce to operate in more hygienic conditions.

Further speaking in the sidelines of the meeting, Duke said that Walmart has not made any projection on the volume of investment likely to be made, if FDI in multi-brand retail is opened.

When asked why India is an important market for Wal-mart to make huge investments, he said India has impressed him by showing potential economic stability and growth even in the midst of the crisis period that has hit the global economy adversely.

Related opportunities
  • Healthcare & Medical Products
    Arogyamithra (Safedrugs Health Solutions) is a pioneering healthcare startup dedicated to..
    Locations looking for expansion Telangana
    Establishment year 2021
    Franchising Launch Date 2022
    Investment size
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Hyderabad Telangana
  • UDGAM Pre-school Franchise Opportunity: A Lucrative Venture in the Education..
    Locations looking for expansion New Delhi
    Establishment year 2004
    Franchising Launch Date 2014
    Investment size Rs. 10lakh - 20lakh
    Space required 2750
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • The Founding Story It All Started with an All Girls International..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2024
    Investment size Rs. 20lakh - 30lakh
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Men's Clothing
    About Store Senor (Enzed Global Private limited) A premium wedding wear..
    Locations looking for expansion Haryana
    Establishment year 2023
    Franchising Launch Date 2024
    Investment size Rs. 30lakh - 50lakh
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gurugram Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
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

pincode
;
ads ads ads ads