Wal-Mart to engage with new govt; focus on wholesale biz.

Wal-Mart India said it will 'engage and work' with the new government and continue to focus on the cash and carry business in the country in the backdrop of Narendra Modi led BJP getting mandate to come to power at the Centre.

BJP in its manifesto had said that it will keep FDI out of the key sector of multi-brand retail.

'Barring the multi-brand retail sector, FDI will be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of niche technology and specialised expertise,' the BJP manifesto said.

US retail giant Wal-Mart operates 20 wholesale stores under the brand 'Best Price' in India.

'As India elects a new and stable government at the Centre, we’ll continue to remain engaged, committed and work together with the government and other stakeholders and continue adding value to the economic growth in the country,' Wal-Mart India CEO Krish Iyer told PTI.

HBL