Home / Knowledge / News / Apparel/Garments / Wal-Mart sold-out on Indian retail sector
Wal-Mart sold-out on Indian retail sector
02
Jun '10
Wal-Mart, the world's biggest retailer, with revenues of US $405 billion in 2010 is trying hard to overcome hurdles to establish a presence in the front-end of the lucrative Indian retail sector.

Currently, Wal-Mart has a presence in India in the wholesale segment and back-end supply chain management business and has entered in to a joint venture with the Bharti Group, since current Indian foreign direct investment (FDI) policy does not permit multi-brand FDI in the retail sector.

Wal-Mart is lobbying hard with the US administration in order that, the administration may convince the Indian government to change its current policy relating to FDI in retail, so that it may be able to set up shop in India.

Speaking exclusively to fibre2fashion, Mr Kevin Gardner, Senior Director, International Corporate Affairs at Wal-Mart said, “We are optimistic that the Indian government will move ahead with its policies of economic and social reforms, including allowing FDI investment in front-end retail.”

He added by saying, “Retail can be an engine of growth, not just in urban India but also in Tier II and Tier III towns, offering more job opportunities and helping families to save money so they can live better. FDI in retail can only help accelerate this process.”

Fibre2fashion News Desk

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search