Thailand’s Siam Makro has plans to invest more than Rs 1,000 crore in India in five years to open its wholesale outlets across the northern region. The wholesale cash-and-carry business in India will be launched under the brand “Lots Wholesale Solutions”.
The proposed investment will go into building infrastructure, getting manpower, setting up the supply chain and opening stores.
The company, which has 123 stores in Thailand, plans to open the 15 stores in the first phase in Delhi-NCR, Punjab, Haryana, Uttar Pradesh and Rajasthan.
While Siam Makro will not get into food retailing segment under Lots Wholesale Solutions, it may consider getting into that space through other subsidiaries so as to take the benefit of the local policy that allows 100 per cent foreign investment in food retailing.
Besides Thailand, the company runs cash & carry business in markets such as China, Cambodia and Myanmar.