Walmart and Government of Maharashtra, in the presence of Chief Minister Devendra Fadnavis, have signed a memorandum of understanding (MoU) for 15 modern wholesale cash and carry stores in the state.
This wholesale cash and carry stores by Walmart will in bring investment of up to Rs 900 crore and provide 30,000 jobs in Maharashtra, according to a tweet by the state’s Chief Minister.
Walmart already has a total of 21 cash and carry stores in India out of which two are in Maharashtra – in Amravati and Aurangabad. The company had said earlier that they are looking forward to setting up 50 stores over the next 4-5 years.
Maharashtra is a good place for setting up businesses because of its geographical condition, good port, and even road and rail connectivity. This has already made the state a preferred location for companies in the logistics sector.
Walmart already sources 90-95 per cent of its goods from local market, which is likely to continue in the new stores. Small and medium enterprises (SME) in India are also currently affected by GST and struggling to get their act together. Increased presence by retailers who through their buying power and international reach can procure a good from the cheapest source can make life tough for the SME players. SMEs are where most of the jobs are created. Walmart is expected to lend some support to this sector.
MoU signed in presence of CM @Dev_Fadnavis betwn @Walmart & Industries Dept,GoM for 15 modern wholesale cash & carry stores in Maharashtra. pic.twitter.com/HJhKVqODxP
— CMO Maharashtra (@CMOMaharashtra) July 12, 2017
