American retailer Walmart plans to open 50 new cash and carry stores across India over the next four to five years.

Walmart’s head of Asia, Scott Price, says the company is optimistic about the market despite the ups and downs there.

Walmart has 20 cash and carry stores under Best Price Modern brand in India, which it bought back from its then partner Bharti Enterprises.

Price said Walmart will also launch an e-commerce business in India, starting with a B2B platform catering to kirana stores. Its plan to launch an online marketplace in India to allow third party merchants to sell products to consumers through its portal remains undecided yet, Price said.