Wal-Mart, world’s largest retailer, has almost completed the plan to enter in Indian retail market and it has planned to enter with a bang, it seems. According to the report, Wal-Mart has decided to launch a joint venture with Bharti group to open wholesale stores in the country in the mid of year 2008. Further, it would expand its network to 75 cities in the country within next five to seven years.

The report says further that the Wal-Mart would probably sign an agreement with Bharti group for equal joint venture for a cash-and-carry venture in next coming weeks. Wal-Mart’s president for emerging markets, Rahul Jain has confirmed this report in New Delhi.

Bharti group, which owns Bharti Airtel that happens to be the India’s largest mobile service provider, has owned front-end retailing venture, Bharti Retail. Bharti Retail has also planned to invest $2.5 billion in the venture to expand the network by 2015. the company has decided to open hypermarkets, supermarkets and other stores in various cities across the country.

According to Rahul Jain, the new Bharti-Wal-Mart wholesale joint venture may have its impact on the prices of various products as the prices of agricultural products would go down by 10-15 percent. Similarly, the prices of electronic goods would be reduced by 5-7 percent and television sets and refrigerators by up to 25 percent.

Rahul Jain further concluded by saying that the wholesale venture would not import goods more than 10 percent. There is a plan to source half of the goods from the city or the near-by cities where the venture would open the markets.

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