US retail giant Wal-Mart took its first step into India this weekend, opening its first wholesale store in a country where modern retail has so far made little headway against traditional wholesalers, and small independent ‘mom-and-pop’ shops.

BestPrice Modern Wholesale, as the cash-and-carry store has been named, is a joint venture with India’s Bharti Enterprises, a conglomerate with interests in business ranging from telecommunications to agriculture and food-processing.