Bengaluru:
Walmart has signed an agreement for a second office space in the city of southern India in Chennai, which is rapidly emerging as an important technology center after being known for years as a manufacturing center.
Global companies are establishing more and more local centers in India to support their daily operations, research and development and cybersecurity, which has benefited commercial real estate developers in cities such as Bangalore, Hyderabad and Pune.
Chennai, traditionally known for being a manufacturing center, is now seeing the global corporate interest in establishing technological centers, of main companies such as Astrazeneca, UPS and Pfizer.
Walmart has leased an area of more than 465,000 square feet, approximately the size of eight soccer fields, for an initial period of five years, starting in November, according to a document seen by Reuters on Wednesday.
Although Walmart does not run supermarkets in India, it has technological offices in cities such as Chennai and Bengaluru. The Bangalore office, which employs 8,000 workers, is its largest technological center worldwide.
Walmart did not immediately respond to Reuters comments.
(This story has not been edited by NDTV staff and was automatically generated from a union feed).
