Walmart not to wait for all states to allow retail FDI

Raj Jain,the president of Walmart India and MD & CEO of Bharti Walmart,on Wednesday said he expected the companys first retail store in India to open in the next 12-18 months.

Jain said that fact that eight states have welcomed foreign direct investment in multi-brand retail is good enough to start the business.

The government has taken a cautious approach to open up FDI. We see a lot of potential and we need not wait for more states to accept FDI, Jain said.