SIAM Makro enters India, plans to invest Rs 1,000 cr

New Delhi, Jan 18 (IANS) International cash-and-carry retail major SIAM Makro on Thursday launched its India operations — LOTS Wholesale Solutions — and said that it plans to open its first store by the second half of 2018.

According to the company, it plans to invest Rs 1,000 crore in the next five years.

"We are going to focus on north India. Our first store is expected to come up in the Delhi NCR region by the second half of 2018 and it will soon be followed by our second store in the same region," Sameer Singh, Director – Operations, Business Development and Expansion, told IANS.

"We plan to have our first 15 wholesale distribution centres across north India."

SIAM Makro took the 100 per cent Foreign Direct Investment (FDI) route into India for establishment of "LOTS Wholesale Solutions".

The company said its intended investment is expected to create 5,000 direct and indirect jobs.