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| Bharti, Wal-mart form wholesale |
| Rajan Bharti Mittal (left), Managing Director, Bharti Enterprises, with Raj Jain, Country President for Wal-Mart’s operations in India, at a press
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| INDIA
, 7-August-2007
2:36:10 AM |
| After long deliberations, Bharti Enterprises and Wal-Mart Stores Inc. on Monday announced a 50:50 joint venture to form Bharti Wal-Mart Private Limited for their wholesale cash-and-carry and back-end supply chain management operations in India.
Through the new venture, the company would serve neighbourhood kirana stores, fruit and vegetable resellers, restaurants and caterers and other business owners, besides catering to the needs of other retailers including Bharti Retail, which would be soon be opening its stores in India.
Announcing the tie-up here, Bharti Enterprises Managing Director Rajan Mittal said the new venture would provide small retailers and other business owners a wide range of quality products at competitive wholesale prices help them to grow their businesses and increase profitability.
According to Raj Jain, Country President for Wal-Mart’s operations in India: “One of the key reasons for Wal-Mart’s international success is the fact that in every location where we operate, we are local. We source local products from local suppliers that appeal to local tastes, needs and fashions. As a wholesale cash-and-carry business, our endeavour is to work with and develop local suppliers and create local beneficiaries along the supply chain. We hope that big and small retailers and businesses will be our customers who will take advantage from the efficiencies we provide and derive significant benefits for their businesses.”
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