Walmart has now been in India for a decade. The US retail company, which entered India with cash-and-carry operations in 2009, now operates 24 stores in nine states and twenty cities. It aims to double its store count in the next 3-4 years. The company, however, thinks that “going pan-India may still not be needed”, as it believes that its current presence and India’s smaller cities offer a lot of growth potential.
“The next ten years will be the period of exponential growth for Walmart India. And if I look at the opportunities India presents I think it will still remain important to stay focused and not start thinking about going national,” said Krish Iyer, president, and CEO of Walmart India.
Iyer said that Walmart’s focus is on Tier 2 and Tier 3 cities as it looks forward to opening seven new stores this year, six of which will be based in Andhra Pradesh and Telangana.
He added that the company’s next phase of expansion would see it operating in Andhra Pradesh, Telangana, Maharashtra UP, Uttarakhand, Punjab and Haryana. Walmart’s slow-burn expansion strategy is in line with its objective of deepening its presence in existing markets, while also ensuring that management’s bandwidth does not get diluted by pan-India operations