Wal-Mart to Invest $500 million in India
Wal-Mart is expected to offshore its business and back office operations to India. The company has shortlisted Wipro, Infosys and TCS for its $500 million contract for a five-year term. Through this initiative, Wal-Mart may also serve its customers worldwide with online product sourcing.
The company spokesman, John Simley had earlier said that Wal-Mart was in discussions with various IT service providers. It maintains in-house IT team which overlooks its retail operations and online activities. With nearly 10, 000 retail stores across the US, and other European countries and $400 billion in annual revenues, Wal-Mart is looking for major technology-driven expansion in India.
Other retailers that include US-based Home Depot have already outsourcing their operational activities third party service providers in India for cast-efficiency. The company has already entered into an agreement with Bharti for retail operations.
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