Walmart’s Indian joint venture operation Bharti Walmart is planning to open 12 new Best Price Modern Wholesale stores by March 2012, in a move away from its cautious expansion strategy.

The group expects to ramp up the rate of expansion and open “more than 12” stores in 2013.

Managing director and chief executive Raj Jain said: “We are not conservative anymore. Initially we started slow so as to learn more about the market, and having done that we are looking at expansion.” It currently has five stores.

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