Bharti Walmart sees realty cost, lack of spaces as major hurdle for retail
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores Inc, has termed limited availability of real estate space coupled with high real estate costs as one of the major challenges in front of Indian retail market.
The government’s policy restricts foreign direct investment (FDI) into multi-brand retail sector wherein the MNC retailers are allowed only in those cities with a minimum of 10 lakh of population.
Bharti Walmart has added that bad supply chain environment in big cities is another key challenge before its retail foray in the country. The retail giant also stressed upon goods and services tax as it says that restrictions on inter-state movement of goods could be addressed only through early introduction of goods and service tax (GST).
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Bharti Enterprises, Bharti Walmart, commercial real estate spaces, Foreign Direct Investment(FDI), goods and service tax (GST), high real estate costs, Joint venture, MNC retailers, real estate space, Retail market, Walmart Stores Inc.
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