Bharti Walmart is a wholesale joint venture between the US retail giant and India's Bharti Enterprises.
Jain said Walmart is "willing and able" to invest in back-end infrastructure that will help reduce wastage of farm produce, improve the livelihood of farmers, lower prices of products and ease supply-side inflation.
The new policy will positively impact the Indian market and its people and will also contribute toward India's image as one of the world's fastest growing economies and a welcoming destination for international businesses, Jain said.
After a long wait, India also cleared 100% FDI in single-brand retail on Thursday.
Till now, the country has only allowed 51% FDI in single-brand retail and 100% FDI in the cash-and-carry format of the business.