Just about six months after the UPA gave the green signal to foreign direct investment (FDI) in retail, Walmart is ready to make its presence felt in Jharkhand.
Information suggests that a top functionary of Bharti-Walmart is on an extensive tour of the State and has even surveyed some sites. According to exclusive inputs received by The Pioneer, Bharti-Walmart (Jharkhand division) head Daniel Christopher is on a reconnaissance mission for setting up the first Walmart retail chain store in eastern India, in Ranchi.
Apparently, in the present apolitical scenario in the State, the stage seems set for the world’s largest retailer. Though there was a confidential meeting between Advisor to the Governor and the MNC’s representatives a few days ago, industries department officials remain tight-lipped.
Moreover, a senior employee of the multinational giant has even approached a property developer in Ranchi and is zeroing in on prime land along the stretch from Booty More to Ormanjhi, for setting up a king-sized supermarket.
The mega project — worth Rs 200 crore, inclusive of land and infrastructure — basically requires a four-acre of litigation-free land with 200 metre frontage space.
Owners of a reputed automobile workshop on National Highway 33 offered their premises. However, it lacked the necessary features. Company officials are expected to visit the Capital soon to seal the deal.
However, experts remain divided over FDI infusion. While some believe Walmart’s entry will infuse capital into developing infrastructure to boost agriculture and horticulture, others fear that small-time grocers would die a slow death, with the gates being opened for MNCs.
Of course, the reason behind Jharkhand being chosen as a destination by the retailer is not difficult to fathom. Most non Congress-run States had opposed tooth and nail the decision of 51 per cent FDI in retail. This has effectively blockaded the company’s entry in the east. Jharkhand, in the circumstances of President’s Rule, represents a golden opportunity.