Walmart wants to invest in Bihar: Sushil Modi
Even as the Centre is considering a calibrated roll out of foreign direct investment in multi-brand retail in large metros, the world’s largest retail chain —Walmart — has expressed interest in investing in Bihar. “Last week, people from the American Embassy and Americans visited Bihar and they said that Walmart wants to invest in the state,” deputy chief minister of Bihar Sushil Modi said on Tuesday.
However, the state has not taken any decision on the issue, he said.
Walmart has entered India for cash-and-carry format of business through a joint venture with the Bharti Group. The joint-venture, which opened its first store in Amritsar in May 2009, has expanded its cash-and-carry format business to Raipur, Zirakpur, Jalandhar, Kota, Bhopal and Ludhiana.
Under pressure from high food prices, the government is planning to liberalise the FDI regime in multi-brand retail that would allow international players like Walmart to set up shop in the country and help ease supply constraints.
The Centre has sought views of state governments as well before reaching a decision.
Modi said the state government has not yet firmed up any opinion on the issue. “We have not taken any decision regarding foreign investment in multi-brand retail,” he said.