Walmart Stores infused more cash into its Indian cash-and-carry operations in June to expand the network, taking the world number one retailer’s total investment in the country to nearly 2,000 crore and underscoring its renewed optimism about business prospects in the South Asian nation. Funds amounting to 623 crore were allotted as share application money by the parent company last month. Walmart India, the local entity registered in January, had earlier raised a cumulative 1,328 crore from its US-based parent. The retailer paid $100 million (604 crore) to acquire Bharti’s stake in its India wholesale joint venture to convert it into a fully-owned subsidiary. India allows 100 percent overseas investment in cash and carry or wholesale ventures and in single-brand retail. It allows 51 percent overseas investment in multi-brand retail enterprises such as supermarkets with conditions. Such boost of Walmart in the retail domain will give signage players engaging in in-shop projects a new business opportunity.
