Wal-Mart, entering the cash-and-carry business in India in a joint venture with Bharti, will sign an agreement to this effect. A MOU was earlier signed between the parties. Wal-Mart and Bharti seem to be unfazed by the political opposition in the country.
According to sources, the proposal will be placed before Wal-Mart’s global board of directors shortly. The details of the agreement between Wal-Mart and Bharti will be made public within a fortnight after finalisation. The company plans to roll out its first stores in the latter half of 2008.