Wal-Mart-Bharti venture will take more time

The much-awaited Wal-Mart-Bharti tie up will take some more time to be finalised as the world's largest retailer said it was not making any business announcement during the India visit of its vice chairman Mike Duke, who arrived in Mumbai on Thursday.

"No business announcement regarding our specific plans will be made during this visit," a Wal-Mart spokesperson said in a statement.

Wal-Mart said the details of the back end linkage and cash and carry format were still being discussed. "Our business arrangements with Bharti for wholesale cash-and-carry are still being discussed. We look forward to partnering with them to build backward linkages with farmers and suppliers through a robust and efficient supply chain," the spokesperson said.

Describing Duke's India visit as a 'routine business visit', the spokesperson said no business announcement regarding the company's specific plans would be made during this visit.

Seeking to allay fears that its entry to India would wipe out the neighbourhood stores, the spokesperson said: "A cash-and-carry wholesale operation also has the potential to provide much needed support to small business owners and retailers by selling them quality merchandise at competitive prices."

Wal Mart also said in line with existing guidelines, Bharti Retail has approached it for critical technology support in the areas of logistics, supply chain and back-end technology, all areas where Wal-Mart is recognised as a world leader.

"Sourcing from India for our international operations continues to be a growing focus for Wal-Mart. In 2006, we sourced nearly $600 million in goods directly from suppliers in India for the company's stores around the world. We hope to continue growing this area," Wal-Mart said.