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Walmart International’s President and CEO David Cheesewright has reiterated the company’s commitment to grow its cash-and-carry and business-to-business e-commerce businesses in India in the next five years.
Cheesewright was on his maiden visit to India on April 22-24. During the course of this visit, he met Chief Ministers of Andhra Pradesh and Telangana and apprised them of the company’s future growth and local sourcing plans.
He also visited the existing Best Price Modern Wholesale stores in Hyderabad and Agra. In Agra, he launched the B2B e-commerce service, making it the 16th store to go online. Walmart is set to launch a cash-and-carry store in the city in August-September, which will be the company’s 21st such outlet in the country.
“India is an important market for us, and Walmart is committed to this country and the market for the long term. I am delighted to be here and excited about our growth plans. I believe Walmart is integral to ‘Make in India’ through the benefits we are delivering in India,” Cheesewright said.
He said the company is committed to partnering in India’s economic growth by enabling the right ecosystem for B2B e-commerce through investments in people, technology and supply chain. “Walmart India has partnered with small businesses to enable them to modernise and improve their profits through Best Price stores that offer a range of quality products, transparently priced, in a clean environment that offers one-stop shopping convenience. We want to grow our business in India the right way with integrity as the foundation of everything we do,” he added.
The company believes its B2B e-commerce platform, that caters to members of the Best Price Modern Wholesale stores only, will be a major driver of growth for its cash-and-carry business.
The company has been expanding the e-commerce platform rapidly, which is now available across 16 of its 20 existing stores.
Last year, the company had said its plans to launch 50 new wholesale stores in the next four-five years to expand its footprint in the country.
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