Wal-Mart gets $7 billion investment
by Brian White
Bharti is the Indian company that has agreed to partner with the world’s largest retailer to open locations in India where Wal-Mart currently has no retail presence.
Bharti will invest $7 billion by 2010 to ensure that the retail joint venture is setup and started with the resources it needs to be successful right from the start. The two companies will be setting up 200 large supermarket-type stores and hundreds of smaller large-format stores.
Wal-Mart will now cater to an estimated 300 million Indian citizens — a population that has become increasingly affluent and a market that global retailers are eying with jaws wide open. This piece of pie is up for grabs — like China — and when growth slows in the U.S., to other global markets go the retailers.
(Feed taken from bloggingstocks.com)
This is Wal-Marts pearl to be able to open a store to India, this only increases Wal-Mart’s imperialistic power. Stores in India will flurish, economy will begin to stagger, local businesses will close, people will rely on Wal-Mart for everything leaving those who broke their backs to create businesses in shambles. Prices will be cheaper than what they are used to paying, but it all goes back to the hidden costs of Wal-Mart, we just hope that the people of India are aware of this before all goes wrong.