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Walmart not to wait for all states to allow retail FDI

“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.

Written by ENS Economic Bureau | Hyderabad | September 27, 2012 12:46:23 am

Raj Jain,the president of Walmart India and MD & CEO of Bharti Walmart,on Wednesday said he expected the company’s 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.

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