NEW YORK — Wal-Mart Stores Inc. says it will open 50 more wholesale stores in India over the next four to five years, adding to the current total of 20 in the country.
These stores, known as cash-and-carry outlets, cater to retailers, rather than to individuals.
Wal-Mart also said Tuesday that it plans to launch an online operation for cash-and-carry customers in India.
The world's largest retailer announced last October that it was splitting from its Indian business partner Bharti Enterprises and said it couldn't go forward with plans for its own retail stores in India because strict government regulations on sourcing from local small businesses make it impossible. Wal-Mart's growth in India has also been hampered because of an internal bribery investigation that's making the discounter evaluate its practices abroad.