World's largest retailer, Wal-mart Stores is planning pen its first store in India in two years following a decision by the Indian government to allow foreign direct investment in the sector.

Scott Price, Wal-Mart's Asia chief executive indicated that the company will take 12 to 18 months to open its stores in India after it gets permission from the authorities. The company is already present in India through a joint venture with Bharti for whole sale operations.

"We will commit to retail in India. But this idea that the gates have been opened and there's going to be a flood is overwrought," said Scott Price, chief executive of Wal-Mart Asia.

The Indian government ahs faced immense political pressure and opposition from sever sections of the society to scrap its decision to allow foreign players to enter the retail sector. However, this time the government appears confident in taking the reforms forward.

Those who favor FDI in multi brand retail in India argue that it will address the issue of supply bottle necks, develop supply chain infrastructure, reduce wastage of food and improve efficiency, besides generating employment. They also say that it will benefit farmers, who will be able to negotiate better deals with large firms and ultimately, customers, who will get commodities at a cheaper price.

Opponents argue that the allowing big international players will affect small retailers, which dot the country's streets. They cite the examples of Thailand and Malaysia, which allowing FDI in retail has resulted in problems for small retailers.

Wal-mart is the world's third largest corporation, according to Fortune Global 500 and is one of the largest private employers in the world with more than two million employees working at its stores. The company runs around 8,500 stores with different names in 15 countries across the world. Wal-mart Stores generated a whopping $446.950 billion in revenues in 2012.