Wal-Mart India is betting big on South India as it aims to start at least 50 `Cash and Carry’ stores in the country in the next 5-7 years, Krish Iyer, its Chief Executive Officer has said.

The wholly owned subsidiary of Wal-Mart Stores, the US-headquartered leading retailer is more excited about the potential in Andhra Pradesh and Telangana States. At present, it has a large store in Hyderabad and three in Andhra Pradesh. "We plan to increase the number of stores to 15 in AP and between 8 and 10 in Telangana", he told Business Line here.

At present, Walmart has established 20 stores across the country. The 21{+s}{+t} store will be coming up in Agra, Uttar Pradesh during the quarter April-June, 2015. Typically, each store will need an investment of Rs 40-50 crore. In addition, there is investment into the supply chain infrastructure and supplier development, he added. The potential growth for the Cash & Cary stores segment is pegged at around 1,000 stores in the country.

The company has focussed on identifying sites for the proposed expansion across different states. Typically, it takes two years to establish a store after finalising the location, which is most often leased land or owned. Each store can provide employment to 2,500, both direct and indirect, Iyer explained.

Krish Iyer was in Hyderabad as part of the AMCHAM team of India heads of US corporates who met Telangana Chief Minister, K Chandrasekhara Rao over dinner on Wednesday to discuss investment potential in the new State. He said the availability of talent, especially in the retail and IT sector was a big draw for the company and to expand in future here.

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