Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
August 20, Monday 2018 8:08 AM       

       HEADLINES: Qatar announces $5 million aid to flood-hit Kerala                                              Rescue operations in full swing                                              V D Satheesan slams health ministry for failure to send relief teams                                              Kerala Floods should be declared a national disaster, says Yechury                                              President Kovind enquires about flood situation in Kerala                                              Air India pilots offer help in flood-hit Kerala on voluntary basis                                              Big B, SRK contribute towards Kerala relief                                              Former UN chief Kofi Annan dies at 80                                              Asian Games: Ravi Kumar, Apurvi Chandela win mixed air rifle shooting bronze                                              Kaumudi Facebook
       BUSINESS Next Article: Bajaj Finserv offers repayment flexibility on home loan  
       Walmart-Flipkart deal: Here's how India will benefit
 
         Posted on :22:37:59 May 9, 2018
   
A A
       Last edited on:22:37:59 May 9, 2018
         Tags: Walmart-Flipkart deal, Here's how India, ben
 
New Delhi: Putting months of speculation to an end, American retail major Walmart earlier in the day confirmed that it would be acquiring a significant stake in Indian e-commerce major, Flipkart Group.
 
While reports of the deal have been surfacing time and again in the recent past, the American multinational announced that it would acquire 77 per cent stake in Flipkart against an initial payment of USD 16 billion (over 1 lakh crore).
 
With the deal in place, Walmart aims to serve customers, support job creation, small businesses, farmers, and women entrepreneurs, while backing Flipkart's ambition to transition into a publicly-listed, majority-owned subsidiary in the future.
 
As per the company, India's e-commerce industry is projected to grow four times faster than total retail through 2023, with a millennial population of 443 million and a growing middle class.
 
With this in mind, Walmart aims to channelise investments towards leveraging the advantages offered, including a sum of USD 2 billion new equity to accelerate Flipkart's growth.
 
As Walmart scales in India, the company will continue to partner to create sustained economic growth across agriculture, food, and retail. On the forefront, the company is looking at extensive job creation through development of supply chains, commercial opportunity, and direct employment.
 
Furthermore, the retail major plans to support small businesses and 'Make in India,' through direct procurement as well as increased opportunities for exports through global sourcing and e-commerce.
Among other initiatives, Walmart will partner with Kirana store owners and members to help modernise their retail practices and adopt digital payment technologies. They will also support farmers and develop supply chains through local sourcing and improved market access.
 
On a related note, Walmart currently operates 21 Best Price cash-and-carry stores and one fulfilment centre in 19 cities across nine states in India, with more than 95 percent of sourcing coming from within the country itself. 
A A
       BUSINESS
Next Article: Bajaj Finserv offers repayment flexibility on home loan
 
 
BUSINESS HEADLINES
BPCL ensures fuel supply in Kerala for rescue operations  
Ranganath's departure irreplaceable loss for Infosys at a critical juncture: Murthy  
Rupee might stabilise at 68-69 a dollar: Garg  
Sensex surges 284 pts, Nifty hits new high  
Gold eases, silver recovers on subdued demand  
Comfortable forex reserves to deal with undue Re volatility: Jaitley  
Positive growth in steel sector, trend to continue: Tata Steel  
Global Indian Solutions to address $900B NRI assets market in India  
DLF to offer only completed flats; to remove delivery uncertainty  
Adani walks away with gas rights for 21 cities; BPCL bags 11 cities  
India Cements Q1 net profits slips to Rs 21.03 cr  
Microsoft boss Nadella rakes in USD 35 million in share sale  
Odisha likely to put up 18 mines for auction this year: Mukim  
Erdogan says Turkey 'won't lose economic war' after lira crash  
Odisha likely to put up 18 mines for auction this year: Mukim  
US dollar ends sharply higher against rupee  
"Ligne Roset" is all set to cover North Indian market through India's premium furniture brand IOTA  
JP Morgan-CIIE to set up Financial Inclusion Lab  
Adani Power net loss widens to Rs 825 cr in Apr-Jun qtr  
Ola to launch its UK operations with ride-sharing offerings in South Wales, Greater Manchester  
Indra Nooyi to step down as PepsiCo CEO  
Paper Industry aims to rectify misconceptions about paper usage  
Sensex hits record high, Nifty breaches 11,400 mark  
GST slabs may reduce to 3 in long-term: Sanjeev Sanyal  
Lankan govenment reworking MoU on airport deal with India  
 
Do you think Indian Army should take up rescue operation independently?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy