In the month of June, Walmart Stores invested heavily in its Indian cash-and-carry business to expand its network in the country, taking its total investment in the country to nearly 2,000 crore, according to a leading daily.
Last month as much as Rs 623 crore was injected in the Indian operations for expansion. Walmart India had earlier raised Rs 1,328 crore from its parent company. This is the second large investment by Walmart after its separation from Bharti Enterprises.
Walmart’s latest annual report stated that the retailer paid a Rs 2,018 crore to end its partnership with Bharti Enterprises. The US retailer paid Rs 604 crore to Bharti Enterprises for buying its stake in the India wholesale joint venture.
The Indian arm of Walmart is also eyeing e-commerce initiative, for wholesale members, currently being tested in Lucknow and Hyderabad.