Walmart opens 24th India cash-and-carry store in Karimnagar
Walmart opened its first business to business cash-and-carry in Karimnagar, second in the state of Telangana, and 24th in India so far. Walmart India aims to open at least seven more wholesale stores.
“We are excited about opening the first B2B Cash & Carry Store in the city of Karimnagar,” said Krish Iyer, president and CEO of Walmart India, as reported by ET Retail. “This is our second store in the state of Telangana, which reinforces our belief in the ease of doing business under the leadership of Hon’ble Chief Minister Shri K. Chandrashekar Rao."
The “Best Price Modern Wholesale Store” is 50,000 square feet and the business estimates that it will create around 2,000 jobs, both direct and indirect, in the area. The business has also signed an MoU with the State Government of Telangana and has “at least seven” stores in the pipeline, according to Iyer who also called Telangana “an important state for us”. Walmart will also source heavily from the state for its stores across India.
"This store also gives us the opportunity to continue to create shared value for our local supplier partners, farmers, members, associates and the community at large,” said Iyer. The store will serve the area’s businesses including hotels, restaurants, and Kirana stores.
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