Walmart wants to invest in Bihar: Sushil Modi

    Walmart wants to invest in Bihar: Sushil Modi

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    Even as the Centre is considering a calibrated roll out of in multi-brand retail in large metros, the world’s largest retail chain — — has expressed interest in investing in Bihar. “Last week, people from the American Embassy and Americans visited Bihar and they said that wants to invest in the state,” deputy chief minister of Bihar Sushil Modi said.

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    However, the state has not taken any decision on the issue, he said.

    Walmart has entered India for cash-and-carry format of business through a joint venture with the . The joint-venture, which opened its first store in Amritsar in May 2009, has expanded its cash-and-carry format business to Raipur, Zirakpur, Jalandhar, Kota, Bhopal and Ludhiana.

    Under pressure from high food prices, the government is to liberalise the FDI regime in multi-brand retail that would allow international players like Walmart to set up shop in the country and help ease supply constraints.

    Source : Indian Express