India famous company Bharti declared that it will found joint-venture company with Walmart, which is the first step for Walmart entering into India retail market.
The president of Bharti Sunil Mital disclosed that Bharati has owned general franchise and will open outlets in India.
This joint venture act is according to governmental policy about allowance of foreign enterprise investing on retail industry, such as cash management and logistic management.
The core consumers of retail industry in India are middle class with great purchasing power. Joint venture with Walmart is designed to make Indian enjoy lowest price everyday.
However, India magnates such as Pantaloon Co., ITC Co., and Credit Co. have showed their demand of share in India retail market.
The value of India retail market is estimated to be 350billion Yuan, total 550billion USD in 2010, which will spur the competition between traders who will take different measures including discount, big order and real value for consumers to attract professional clients.
Until now, the thing is in the air. However, Mittal directs that traders will spend several months before opening to make preparation. "The company will negotiate with hundreds of market places here", said he.
