Walmart Asia President and CEO Scott Price has said his company welcomed the recent opening of the multi-brand retail sector in India to foreign direct investment (FDI).
He stated that the move offers companies such as Walmart an opportunity to directly connect with Indian customers, strengthen the economy, and spur foreign direct investment into the country.
Speaking after visiting the Bharti Walmart Training Centre at Pusa, New Delhi, Price said: “We remain excited about the opportunity to contribute to the ongoing narrative of India’s development. We have plans to expand opportunities for farmers and help lower the cost of living for families in India. We believe that allowing 51 per cent FDI in multi-brand retail is an important first step for the Government of India to further open this sector and strengthen the Indian economy.”
Bharti Walmart Training Centres have been set up by Bharti Walmart with the aim of bridging the shortage of skilled workers for cash-and-carry and organised retail formats. Currently, there are 18 such training centres across the country.
Meanwhile, a Government probe report on alleged graft charges against the retail giant in India will be submitted by April, Parliament was informed on Wednesday.
one-man committee
“The Government has decided to appoint one-man committee regarding media reports concerning Walmart vide resolution dated 31.1.2013. The committee has been asked to submit its report within three from months from issuance of the resolution,” Minister of State for Commerce and Industry S Jagathrakshakan said in a written reply to the Rajya Sabha.