Walmart Statement Regarding India Foreign Direct Investment
Sept. 14, 2012 -- We believe that allowing 51 percent foreign direct investment in multi-brand retail is an important first step for the Government of India to further open this sector. We are grateful that the Government has realized and appreciated the value that we will bring to strengthen the Indian economy. This policy change will allow us to connect directly with the consumer and save them money. By being "stores of the community," we will also help them live better. We are willing and able to invest in back-end infrastructure that will help reduce wastage of farm produce, improve the livelihood of farmers, lower prices of products and ease supply-side inflation. Through these, and several other initiatives, we hope to make a positive impact on the lives of the people of India.