Wal-Mart is trying to enter the Indian market for quite some time. Reliance bosses feel that India is a great place to cash in now because of the continuous high economic growth and flourishing middle class. It has already applied to the Indian government to open up the retail industry for the foreign companies. In this age of free market economy, Indian government will open up this sector sooner rather than later and Wal-Mart would have been the main beneficiary. However, it seems that Wal-Mart will not have an open field after all since Reliance one of the largest Indian companies has announced its plan of entering into the retail industry with a very ambitious and gigantic plan.
Reliance Industries Limited has announced its plan to form a new company called Reliance Retail Ltd. The investment will be nearly $5.6 billion and over the next few years, the company will open retail stores in 1,500 Indian cities and towns. Gradually, the company will generate 1 million of jobs directly or indirectly. Thus, after Wal-Mart can come to India, it will surely find the Indian market a bit crowded.
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