Breaking the near monopoly of Chinese bicycle manufacturers, the Pankaj Munjal-promoted Hero Cycles has clinched an agreement with Walmart, the world's largest retailer, to supply bicycles across the world. It will supply bicycles priced at $200 (roughly Rs 10,000) apiece.
Walmart had entered into a joint venture with Bharti Enterprises.
Walmart's JV with Bharti hinges on policy clarity
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
While Walmart's 50:50 joint venture with Bharti Enterprises -- Bharti Walmart, is talking to the Punjab government to maintain and modernise slaughter houses in the state, French retailer Carrefour has adopted a municipal school located near its wholesale store at Seelampur in Delhi.
Sources estimated the number of employees asked to leave because of downsizing stands at about 100.
Many Walmart India associates made immediate in-kind contribution.
At present, the US-based retail giant operates B2B e-commerce platform in four cities -- Lucknow, Hyderabad, Guntur and Vijayawada -- in the country.
E-commerce pilot for wholesale begins from July in Hyderbad and Lucknow
Ramnik Narsey, the new chief, had joined the retail giant in May 2013.
Bharti-Walmart, the joint wholesale retail venture between Bharti Enterprises and the world's largest retailer Wal-Mart Stores Inc of the US, unveiled its sustainable agricultural programme at Haider Nagar village, near Malerkotla in Punjab.
As against the 2007 target of 10-15 stores in seven years, it is planning to touch around 25 cash and carry outlets in India by the end of 2012.
Bharti-Walmart Pvt Ltd, the joint venture between Bharti Enterprises and global retail major Walmart Stores, on Wednesday opened its first agricultural cooperative centre at Sirhind in Punjab.
John Fearon, CEO of Dropmysite Pte Ltd reflects upon the success of Walmart over the years and tells us what worked for it that did not for its competitors.
An official said next week, the Department of Industrial Policy and Promotion was likely to issue clarifications sought by the sector on the government's multi-brand retail policy.
The chain readies to expand its footprint as Bharti focuses on its retail venture.
The two JV partners have undertaken an empowerment initiative for Indian women entrepreneurs, having set a target of impacting the lives of 25,000 women by 2016. They have also said they will substantially increase sourcing from women-owned businesses in India.
American retail giant Walmart has said it will provide "relevant information" to the Indian authorities for the judicial probe announced due to pressure from Opposition parties on the issue of the company's lobbying efforts in the US regarding India's multi-brand retail sector.
Former Walmart India head Raj Jain has been roped in as an advisor by the Bharti Group, which on Wednesday parted ways with the US retail giant to operate stores independently in India.
The government will present findings of the probe panel that looked into Walmart's lobbying activities to enter the Indian market, along with action taken report, before Parliament in the monsoon session.
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
According to a New York Times investigation, Walmart de Mexico was 'not the reluctant victim of a corrupt culture that insisted on bribes as the cost of doing business.
Google will be able to co-relate data from the first click to the final delivery of product. This kind of knowledge is invaluable, something which even Amazon does not have.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
M P Achuthan, Rajya Sabha member from Kerala, who blew the whistle on the company flouting FDI norms in India, has submitted a petition to the Prime Minister's Office, revealing details of how Walmart violated norms while investing $100 million in Cedar Support Services, a company that was earlier known as Bharti Retail Holdings. He speaks to Manu A B about the MNC
The retail giant tries to strengthen its e-commerce presence, sensing competition globally
The firm is likely to spend $600 million in total for the new stores. The average size of its stores is about 55,000 sq ft.
The government had constituted a one-man probe panel to look into Walmart's lobbying activities, after a political furore over the issue late last year.
Plans outlets smaller than in the US, with mostly Indian products, and a desi nameplate.
After supermarket giant Walmart, it is online retail major Amazon which has begun lobbying with the US lawmakers to seek their support for facilitating its "foreign direct investment in India".
Global retail giant Walmart is expected to soon firm up its plan to foray into India's multi-brand sector.
Walmart has 8,500 stores in 15 countries, under 55 different names.
Walmart, the world's largest retailer, is hoping to get more than 30,000 consumers through its e-commerce pilot project that will be launched in the first week of July.
The US-based retailer Walmart Stores Inc, which has a wholesale joint venture with Bharti Enterprises, said its immediate focus in India will be to scale up operations before aiming to be profitable in a medium to long term.
In its comment on the industry department's discussion paper on foreign direct investment in multi-brand retail, the joint venture between Bharti Enterprises and Walmart, said though 100 per cent FDI should be allowed in the sector, it would endorse a calibrated opening.
In its latest lobbying disclosure report filed with the US Senate and the House of Representatives for the quarter ended March 31, 2013, the various lobbying issues of Walmart during the period included 'discussions related to FDI (Foreign Direct Investment) in India'.
Carrefour had in July announced it was exiting the India market
