Multi-brand retail: Walmart exit will be a speck in India's market, says P Chidambaram

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Why do we assume that Walmart will make a huge difference to India's retail market, asks P Chidambaram. PTI Why do we assume that Walmart will make a huge difference to India's retail market, asks P Chidambaram. PTI
SummaryMulti-brand retail row continues as FM P Chidambaram shows Walmart its place.

to monitor the environment for FDI in MBR (multi-brand retail)," Wal-mart India spokesperson said. Stating that Walmart plans to continue growing the cash-and-carry business, the spokesperson said the company will work "with the government and interested stakeholders to create conditions that enable foreign direct investment in multi-brand retail".

On the role played by the current policy in the company's break-up with Bharti, she said: "Under the requirements of the new FDI policy, Walmart could not invest in multi-brand retail through the existing Bharti Retail business." Bharti and Walmart's decision to independently own and operate separate business formats in India is based on external and internal factors, including the new policy, she added.

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