There are allegations that Wal-Mart put money into the domestic multi-brand retail chain despite a ban.
Welspun USA's e-commerce plans comes at a time when only 3-5 per cent of home textile sales in the US is ordered over the Internet. The New York-based company is targeting the mid to upper end of the American home textile market, pegged around $15-17 billion. A couple of established retailers such as JC Penny have built the online retail model over the last decade.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
Bharti Wal-Mart Pvt Ltd, the joint venture between Bharti Enterprises and retail giant Wal-Mart, opened its first cash-and-carry (wholesale) store in India at Amritsar in Punjab on Sunday.
And the apparel units in Kinfra Park are working hard to be in the good books of Wal-Mart
Government to examine whether rules and regulations were adhered to in the Bharti-Wal-Mart retail deal, says Commerce Minister Kamal Nath.
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
Reliance Industries chairman and MD Mukesh Ambani on Tuesday announced an additional Rs 20,000-crore investment for West Bengal over the next three years. Ambani said the fresh investment will be in the areas of digital life solutions, retail and bio-energy.
In the subcontinent, Wal-Mart is aiming for slow and steady growth.
The big question, however, is if it can sustain its business model as it grows and expands.
The big question, however, is if it can sustain its business model as it grows and expands.
The city government will bring an amendment to the APMC Act for facilitating direct purchase of produce from farmers.
WalMart International President and CEO Doug McMillon said in Davios that the Indian government's concerns over allowing foreign direct investment in multi-brand retail were misplaced.
Reliance Industries Limited is the country's most valued firm with a m-cap of Rs 9,17,953.13 crore followed by TCS Rs 8,04,980.33 crore.
'It is a breathtaking journey towards the Tibet border, especially since the Border Road Organisation has accomplished a fabulous feat in black-topping the road till the border.' 'One is left with a salute for the dauntless Indian soldiers who spend the winter in these majestic, though inhospitable areas (we were told that the temperature comes down to minus 40 in winter),' recounts Claude Arpi.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
The joint-venture's first wholesale store is expected to be opened by the end of 2008, Wal-Mart India President (Operations) Raj Jain had said.
Chairman and CEO of Bollywood Group Kamal Dandona said on Wednesday that he expects leading film makers and artistes to attend the award function which will he held in New York on May 26.
"The entry of other players in this segment will help in reiterating the benefits of the cash-and-carry concept to Indian customers," Metro India Managing Director Martin Dlouhy says. It may be the first time anywhere in the world that Wal-Mart and Metro square off in the cash & carry format. Dlouhy's apparent nonchalance can't hide the fact that Metro may be facing one of its most difficult challenges in the country.
An earthquake of magnitude 3.1 struck Faridabad in Haryana at 4.08 pm on Sunday, the National Centre for Seismology said.
Bharti Group's retail venture in partnership with the world's biggest retailer Wal-Mart is going to be a low-key affair with its launch planned in phases over a period of time.
Mukesh Ambani has raced ahead of Gautam Adani to become the richest Indian on a list of wealthiest people in the country. The 66-year-old chairman of the diversified Reliance Industries saw his wealth growing by a marginal 2 per cent to Rs 8.08 lakh crore, while Adani's fortune plummeted by 57 per cent to Rs 4.74 lakh crore, as per the 360 ONE Wealth Hurun India Rich List 2023. Anas Rahman Junaid, managing director and chief researcher at Hurun, attributed the decline in Adani's wealth to the Hindenburg report published in January. In January,
Wal-Mart and other retailers lobbied for years to gain access to India's market, lured by the promise of a middle class that will one day rival China's.
Meet the winners of the Filmfare OTT Awards 2023.
Consumer durables firms and fashion retailers expect double-digit growth in value terms in the ongoing festival season as consumers have stepped up purchases during this period. They expect to see value sales growth upwards of 15 per cent, which is especially coming in from cities. However, volume growth may lag behind value growth.
Reliance Retail Ventures Ltd (RRVL) is discussing a three-pronged plan that includes an additional divestment of $250-300 million this year, apart from what it has diluted in favour of the Qatar Investment Authority (QIA) and US-based private equity fund KKR recently.
Sukanya Verma quizzes you to find out just how much you know about the movies.
Sukanya Verma quizzes you to find out just how much you know about the movies.
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
The UK Health Security Agency said EG.5.1, which has been nicknamed Eris, makes up one in seven new COVID cases.
Carnival group buys project in Chandigarh from L&T for Rs 1,785 cr.
Eight persons were charred to death and three others seriously injured in a fire that broke out in three timber scrap godowns in the powerloom town of Bhiwandi near Thane, police and fire officials said.
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