Walmart India opened its first "Best Price" store here on Wednesday. Andhra Pradesh Panchayat Raj and IT Minister N. Lokesh was the chief guest for the opening ceremony.

Krish Iyer, President and CEO of Walmart India, said that it was the fourth Walmart store in Andhra Pradesh and 23rd in the country. "It is the first in Vizag and we are planning to open another store in the city," he said.

He said the company had signed a MoU with the State Government to open 15 stores in the State and had so far opened four. "We are planning to open seven more in the State, including the second one here in Vizag. The six other locations are Tirupati, Kurnool, Vizianagaram, Kadapa, Kakinada, and Nellore. That adds up to 11, including the existing four. The remaining four locations have not yet been identified," he said.

He praised the Andhra Pradesh Government for giving all the clearances without any hassle. "AP ranks number one in ease of doing business. It is not mere ranking that counts. We are practically experiencing it," he added.

Krish Iyer said the company was spending roughly Rs 60-70 crore on each store and "our objective is to provide the best price to the farmers and supply the products to the consumers at cheap rates’’. He said each store would generate 2,000 jobs directly or indirectly and the local people would be given preference.

The AP Panchayat Raj Minister said Walmart should promote local brands from rural areas. "For instance, Naandi Foundation is promoting organic coffee from Araku valley in Visakhapatnam district. Walmart should encourage such brands and should focus on tribal farmers as well," he said.

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