Walmart to make India its major sourcing centre
Giant retailer Walmart said that sourcing from India could increase to 'hundreds of millions' of dollars within 4-5 years, which has an immense potential of making the country an export hub for its gl
April 14, 2010 | comments ( 1 ) |
Giant retailer Walmart said that sourcing from India could increase to 'hundreds of millions' of dollars within 4-5 years, which has an immense potential of making the country an export hub for its global operations.
The Bentonville (Arkansas)-based company already has a major sourcing business in India, including goods worth USD 125 million a year from Punjab alone, comprising mainly of cotton.
Walmart Asia President and CEO Scott Price said Walmart's global sourcing division has been restructured and the retailer has decided to focus on India in a big way.
Indian products can be exported to other Asian countries, Europe and even the US, he added.
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