Bentonville, Ark. – Wal-Mart Stores Inc. has reportedly invested $103 million in its Indian operations with the goals of expanding its wholesale store count and increasing its online presence there. According to the Wall Street Journal, Wal-Mart intends to increase wholesale store base in India from the current 20 to 70 in the next five years.
The investment, designed to meet working capital and capital expenditure requirements, will also be used to offer the local retailers Wal-Mart serves through its Indian wholesale stores, which do not sell to consumers, 24-hour online service. Wal-Mart opened a pilot e-commerce site for small retailers located in the cities of Hyderabad and Lucknow in June, with full rollout across India planned in January 2015.