Walmart invests Rs 1,328 crore in India
Plans to strengthen its e-commerce operationsApril 07, 2014 | comments ( 0 ) |
US-based grocery retailer Walmart has invested Rs 1,328 crore in its Indian unit and it indicates its aggressive growth plans for India, despite recently ending the joint venture with Bharti Retail.
Industry experts highlighted that Walmart would be utilising these funds for e-commerce and enhancing it back-end infrastructure.
Walmart's store expansion in the country has been put on hold until early 2015, amid an ongoing internal probe to check if its local unit had violated the US Foreign Corrupt Practices Act or FCPA.
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