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Wal-Mart's India Deal


In a deal first talked about in February, Wal-Mart has inked an agreement that will bring it into India.

The equal joint venture, Bharti Wal-Mart Private Ltd., is for cash-and-carry, or wholesale, and back-end supply chain management, the companies said in a statement.

"We are pleased to be a partner in developing this sector which is set to become a significant engine of India's economic growth," Bharti Chairman Sunil Mittal said.

India's retail industry, valued at nearly $350 billion, is forecast to double in size by 2015, with modern retail's share of that also quickly increasing from about 3 percent now.

India allows foreign single-brand retailers to take up to 51 percent in a joint venture with a local firm, while multiple-brand retailers like Wal-Mart are limited to cash-and-carry, or wholesale, and franchise deals.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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