Walmart bullish in India

Retail giant Walmart has injected more cash into its Indian unit, demonstrating its confidence in the market.

Walmart has invested more than Rs1300 crore (nearly $250 million) in its Indian business to strengthen its e-commerce and firm up back-end infrastructure. The retailer is reportedly planning to launch an online marketplace in India, the same format used by Amazon and eBay.

The investment follows its break up with Indian partner for six years, Bharti Enterprises. The two have ended their joint venture, allowing Walmart to wholly own the 20 wholesale Best Price Modern stores.

Due to an ongoing bribery probe in India, it says it is putting its offline expansion on hold until 2015.

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