Wal-Mart halts India expansion

Bentonville, Ark. — Wal-Mart is reportedly halting its Indian expansion plans, at least for now. According to the Financial Times, Wal-Mart has not opened any new cash-and-carry stores in India since October 2013 or any new convenience stores there since November 2013.

In addition, Wal-Mart’s Indian partner Bharti Enterprises has reportedly terminated more than 12 leases for what would have been new convenience stores in the past several months. According to the Financial Times, the Indian government may be investigating a possible loan Wal-Mart gave a loan to the Easy Day convenience store business it operates with Bharti, in violation of laws against direct foreign investment in Indian retail businesses, as well as allegations Wal-Mart may have bribed Indian officials. A Wal-Mart spokesperson declined comment.



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