Global Retailer Walmart bets high on Telangana
United States Global retail giant Walmart is going ahead with an immense growth strategy in Telangana with an investment of about Rs 700 crore. The US major, which now runs a single wholesale store under ‘Best Price’ brand on the city outskirts at Rajendranagar, gearing up to open seven more in the recently-created State and four of them will come up in the city very soon.
The remaining three stores will be put up in towns like Karimnagar, indicating its foray into Tier 2 cities in Telangana.
“Apart from Hyderabad, Walmart will even set up the factory outlets in Karimnagar, Warangal and Nizamabad,” he added. The US company is currently busy with the task of identifying suitable land lots – both private and government – for its stores.
It’s zeroed in on two land parcels owned by Hyderabad Metropolitan Development Authority (HDMA) and two other belonging to private parties for its shops in the city. Every one of the new Best Cost shops is anticipated to demand the company and also four acres will go for the outright purchase of the land. Walmart is likely to invest Rs 150 crore in each shop in Hyderabad while investment into the Tier 2 city outlets will be lower.
“The company is going to spend anywhere between Rs 600 crore to Rs 700 crore on these shops which will eventually create 4,000-5,000 new jobs,” the TSIIC chief said. Walmart will make an application for necessary approvals after identifying the properties. “It’ll submit an application for approvals through TS-iPASS (Telangana State Industrial Job Approval and Self-Certification System), and we’ll expand whatever support the company wants,” he added.
Walmart with its massive growth strategies is the second global leading to set its eyes on Telangana in last one year after Swedish furniture retail giant IKEA arrived with plans to set up its first India outlet in the city with an investment of Rs 500 crore.
The company spent a whopping Rs 250 crore to buy a 13-acre prime land in Hi-Tech city region where it’ll create world class outlet by 2017. It’s expected to create over 2,000 direct and indirect jobs.