date:May 07, 2014
aid in the statement.
The retailer is adding India to Russia, China and Turkey as its four markets to focus on for expansion, Chief Executive Olaf Koch said in the statement. Wal-Mart Stores Inc. said last month that it plans to open 50 wholesale stores in India in the next four to five years.
Indias retail market is projected to be worth $865 billion by 2023, according to consultant Technopak Advisors Pvt. India changed laws in September 2012 to allow foreign retailers to own majority stakes