Wal-Mart bosses are perhaps desperate to enter India but Indian government is yet to allow them to open a Wal-Mart store in India. Reliance Retail of Reliance Industries Ltd is taking this opportunity and has started to exert its presence with Wal-Mart formula. Until now, India did not have that many superstores but it is going to change with in the few months. The Sydney Morning Herald reported:
“The world's biggest company, Wal-Mart, doesn't have a foothold in India, the world's largest democracy, at least not yet. But the behemoth's business model is poised to take the country by storm.
On Friday morning Reliance Retail, a part of Reliance Industries Ltd, India's most profitable company and one of its largest, opened eleven western-style supermarkets simultaneously in the southern city of Hyderabad - India's sixth largest and fastest growing city, which happens to be a hub for its growing tech industry.”
This is good news for Indian shoppers. Shopping is a source of entertainment for many people- especially for the women in India. The continuous economic growth means that there are a lot of people now with disposable income.
I am only worried for the small retail shops. In India, thousands of families depend on their livelihood on the income of a small retail shop. Let us hope that these small shops do not face extinction in big cities of India.
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