Report: Wal-Mart sets up new India company

Bentonville, Ark. – Wal-Mart Stores has reportedly registered a new company called “Wal-Mart India Private Ltd.” in India, setting the stage for entering the Indian grocery market with a new local partner. According to the Free Press Journal, an Indian publication, Wal-Mart registered the company on Jan. 15, 2014 with the Indian Ministry of Corporate Affairs.

Wal-Mart runs 20 wholesale stores in India. The retailer previously ran them in a joint venture with Indian company Bharti Enterprises, but since that partnership was dissolved in October 2013 the retailer has operated in the country through an entity known as Wal-Mart India. Wal-Mart India, which employs about 1,100 workers, reportedly laid off about 100-150 employees in December 2013. According to multiple media reports, Krish Iyler, who has been a senior VP in Wal-Mart’s international unit since January 2013, will assume the new role of president of Indian operations on Jan. 20. 2014.

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