? Cool Title, but what’s the news?
In the UP Investment Summit held earlier this year, Walmart India had signed a memorandum of understanding (MoU) with the state government to open 15 wholesale Cash and Carry stores.
? Okay, but what does it mean?
Each store is likely to create 2,000 direct and indirect jobs, thereby generating at least 30,000 local jobs in the state. In addition to existing stores and FCs at Lucknow, Agra and Meerut, the company is bringing its wholesale Cash and Carry stores to Varanasi, Kanpur, Allahabad, Moradabad, Saharanpur, Gorakhpur and other cities.
? Why should I care?
For people in UP, this means access to the worldwide retail giant’s services, more jobs for people in the city, and added business opportunities to expand and do better. For everywhere else in the nation, ever since the Walmart-Flipkart deal, these new expansions and new stores will definitely be coming in more, and will ramp up the retail game in India.
Source: Business Standard