New Delhi: The Indian market is an opportunity that no foreign or domestic investor can ignore but India is a difficult place to do business and the government needs to change it, said Walmart India President and CEO Krish Iyer.
'In terms of ease of doing business, we (India) are ranking 142 out of 189 (globally)...So it's really really difficult in many areas,'Iyer said in Jaipur on the sidelines of the CII Partnership Summit.
The world's largest retailer also said its arm, Walmart India, will continue to focus on wholesale cash and carry business in the country currently and is not looking at multi-brand segment.
The retail giant has also said that it is planning to open 50 more stores.
"We are planning to add three stores in Rajasthan. Locations like Jaipur, Ajmer and Jodhpur are on our radar," Iyer added.
Currently, Walmart operates 20 cash-and-carry or wholesale stores in the country, for which there’s no foreign investment cap.
In December, the retail firm had said it would open a new cash-and-carry store in Agra.
'As far as India operations are concerned, 95 per cent of our purchases are done within the country and we also have a Walmart labs in Bangalore,' he added.