Walmart India to open 15 more stores in Andhra Pradesh

Walmart India on Monday said it plans to open 15 more cash-and-carry stores in Andhra Pradesh apart from setting up a centre for sourcing agriculture products from small and marginal farmers.

Walmart India president and chief executive officer Krish Iyer said the company has three stores in the state and it "plans to open another 15". Meanwhile, four leading retail chains Walmart India, Future Group, Spencers and Arvind -- have signed MoUs with the state government to invest Rs 1,500 crore in Andhra Pradesh with a commitment to generate 25,000 jobs.

Iyer said Walmart India would engage in areas like working with small farmers, and investing in training. Talking about ease of doing business in India, he said both at the centre and the state several steps are visible in this direction.

"The efforts are visible. The events on the ground do take time and I believe that in the next 12-18 months, we are going to see some significant results visible on the ground itself," he said.

When asked whether the big retailers would impact small mom and pop stores, Iyer said both the models would work in India.