Walmart plans to open a further 40 stores in India, according to Indian commerce and industry minister Anand Sharma.

“Walmart is very satisfied with its results in India. I was informed by the Walmart CEO that they are looking at opening more stores.

He gave me a figure of 40 more stores across the country in the immediate future,” Sharma told the India Economic Summit.

The retailer has a cash and carry joint venture with Indian conglomerate Bharti and runs the Best Price Modern stores. The retailer opened its first cash and carry store in May this year.