In a big development, the Wal-Mart Stores Inc has snapped all business relations with its Indian partner, Bharti Enterprises and decided to operate separate business in the country. Bharti will also handle its retain operation independently.
With India opening up its market to multi-brand retailers, the global supermarket leader is now confident of conducting its business independently and maximising the profits. Under the break-up terms, the Bentonville-based company will acquire Bharti’s 50 per cent stake in Bharti Wal-Mart Pvt. Ltd.
Currently, the Bharti Wal-Mart Pvt. Ltd. runs about 20 wholesale stores in India under the Best Price Modern Wholesale brand. Bharti Retail will continue its operations in 212 retail stores across the country.