Wal-Mart Expands Wholesale Business In India; Invests $103 Million In Local Unit

Wal-Mart Stores, Inc. invested $103 million in its wholesale-store operations in India as part of the retailer’s efforts to expand its presence in the country’s cash-and-carry market. As part of this expansion move, Wal-Mart is also strengthening its online operations to offer 24-hour delivery for products ordered online by its wholesale customers. Wal-Mart entered India’s wholesale market in 2009, at the same time, lobbying the government to ease restrictions for foreign investment in the country’s retail market, which has about $400 billion in sales per year and is forecast to grow to more than $1.3 trillion in 2020, according to PricewaterhouseCoopers.