India Latest Victim Of “Everyday Low Prices”
“All-American” retailer heads to India.
By Hilal Nakiboglu Isler, February 22, 2007, Issues, Business, News, Daily
(Money.CNN.Com)
[1] Wal-Mart’s ruthless expansion into the global marketplace will continue, as the world’s largest retail conglomerate now plans to [2] set up shop in India.
[3] Bharti Enterprises, India’s leading cell phone company, has said it will be[4] investing $2.5 billion to establish a “nationwide chain of supermarkets and retail shops” in partnership with Wal-Mart.
India, described as “the [5] next big frontier in the battle for shoppers’ wallets,” was recently ranked as the world’s most attractive destination by the A.T. Kearney Retail Development Index.
“India’s rapidly growing middle class has more money to spend than any previous generation - but no place to spend it,” [6] says Charles Fishman of the Gaurdian online. “Wal-Mart’s acres of low-cost merchandise from around the world, gathered under a single roof, will be like a carnival for a slice of Indian consumers.”
(Right. That’s one way of looking at it.)
Wal-mart, a $250 billion company, is often harshly criticized for its [7] questionable labor and commerce practices.
More:
Goodbye family stores in [8] India’s brave new retail?
Bharti [9] moves ahead on retail plan
Wal-Mart goes [10] abroad for growth
© Copyright 2007 Nirali Magazine
Article printed from Nirali Magazine: http://niralimagazine.com
URL to article: http://niralimagazine.com/2007/02/india-latest-victim-of-everyday-low-prices/
URLs in this post:
[1] Wal-Mart’s: http://www.walmart.com/
[2] set up shop in India: http://www.thestar.com/Business/article/183477
[3] Bharti Enterprises: http://www.bharti.com/
[4] investing $2.5 billion : http://www.bharti.com/48.html?&tx_ttnews[tt_news]=203&tx_ttnews[backPid]
=116&cHash=8568c4a979
[5] next big frontier : http://www.bloomberg.com/apps/news?pid=20601039&sid=anK.YDcZT56Y&refer=c
olumnist_mukherjee
[6] says Charles Fishman : http://commentisfree.guardian.co.uk/charles_fishman/2006/11/walmart_goes_to_indi
a.html
[7] questionable labor and commerce practices: http://walmartwatch.com/
[8] India’s brave new retail: http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=
2007-02-21T124403Z_01_NOOTR_RTRJONC_0_India-288573-1.xml
[9] moves ahead : http://www.forbes.com/markets/commodities/2007/02/19/bharti-wal-mart-markets-eme
rge-cx_rd_0219markets03.html
[10] abroad for growth: http://www.businessweek.com/bwdaily/dnflash/content/feb2007/db20070221_578839.ht
m?chan=top+news_top+news+index_businessweek+exclusives
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