Global Retail giant Wal-Mart registered a new entity called Wal-Mart India Private Ltd in India on 15 January 2014 to enter the lucrative multi-brand market in India. Wal-Mart India Private Ltd was registered as a new entity with Ministry of Corporate Affairs.
A Joint venture of Wal-Mart and Bharthi private Ltd was setup to operate wholesale stores and it was not catering directly to retail consumers. The Wal-Mart and Bharthi Enterprises in 2013 decided to independently own and operate their business formats in India.
Earlier, a controversy broke, when Wal-Mart declared that it has spent 25 million dollars on lobbying activities that included enhanced market access for investment in India and for no law that bars it from lobbying in India.
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.