02-04-2006, 12:11 AM
<b>Wal-Mart Applies to Open India Office</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The office proposed for Bangalore would be a separate entity, devoted to "market research and business development in relationship to the retail industry in India," Wal-Mart spokeswoman Beth Keck said Thursday.
Keck said Wal-Mart is optimistic that the rules will be changed, particularly in light of a move last week by the Indian government to let foreign brands open their own stores. That move would allow stores that sell Nike or other single brands open outlets but not companies that sell broader ranges of goods.
Wal-Mart has about 80 employees already in India to oversee purchasing. Keck said Wal-Mart bought $600 million worth of goods from India in the last year.
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Wal-Mart filed its application for the office last year. The Bangalore office would have one person, who would move from the Bentonville headquarters, Keck said.
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Keck said Wal-Mart is optimistic that the rules will be changed, particularly in light of a move last week by the Indian government to let foreign brands open their own stores. That move would allow stores that sell Nike or other single brands open outlets but not companies that sell broader ranges of goods.
Wal-Mart has about 80 employees already in India to oversee purchasing. Keck said Wal-Mart bought $600 million worth of goods from India in the last year.
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Wal-Mart filed its application for the office last year. The Bangalore office would have one person, who would move from the Bentonville headquarters, Keck said.
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