Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2010-10-27

Walmart chain to boost SMEs

More retail of Walmart to help 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
  • Preschools
    About Us: GD Goenka Group, established in 1982, has had varied..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Building Architecture
    MSpace is a leading importer, distributor and supplier of leading edge..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • After School Activities
    About Us: Brightt kids began its journey from Pune and over..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Quick Service Restaurants
    About Us: Inspired by their sojourns across various countries in South..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
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