Walmart is the world's largest retailer founded by Sam Walton in 1962. It employs over 1.5 million people worldwide and operates over 4000 stores. In 2006, Walmart entered a joint venture with Bharti Enterprises to operate retail stores in India under the franchise model. This allowed Walmart to leverage Bharti's local execution capabilities while bringing its logistics and sourcing expertise. The joint venture aims to provide low prices to Indian customers similarly to Walmart's strategy in other markets. Some key Indian competitors include Pantaloons, Big Bazaar, and Reliance Fresh.