Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
September 22, Saturday 2018 1:21 AM       

       HEADLINES: ‘Global Salary Challenge for rebuilding Kerala’, CM seeks help from expats                                              Gas leak after tanker lorry overturns in Malappuram                                              SI transferred for charging case against CPM MLA                                              Harish Vasudevan mocks Kodiyeri                                              Left govt will not try to end protest of nuns, if they try, it should not be allowed: Saradakkutty                                              Shah accuses Rahul Gandhi of supporting 'urban Naxals'                                              Russia warns US it is 'playing with fire' with sanctions                                              Batsmen have to be better prepared when they go to England next time: Dravid                                              Batsmen have to be better prepared when they go to England next time: Dravid                                              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
Sensex ends in red after 1,000-pt flash crash  
OYO to hire over 2,000 tech experts, engineers by 2020  
Avis India announces free doorstep delivery, collection of self-drive cars  
Dena Bank surges 20%; BoB tumbles 14% post merger announcement  
Vijaya Bank, Dena Bank, BoB to merge: Govt  
Mother Dairy won't cut prices despite Patanjali's cheaper cow milk  
Union Bank of India exits Antwerp diamond market  
Naidu discusses bilateral cooperation in trade and defence with Serbian President  
FundzBazar crosses 2 lakh investors milestone  
Ramdev Baba’s Patanjali launches cow milk, french fries and more  
United Bank of India increases MCLR by five basis points  
RBI submitted a list of high profile fraud cases to PMO: Rajan  
Chemists call for strike on Sep28 against online medicine sale  
Rupee sinks to new low of 72.91, drops 22 paise against USD  
Skills and You develops special module 'Curio'  
Google ready to comply with RBI norms for payment services, says official  
FinMin in touch with RBI for market intervention to contain rupee value  
Sensex plunges over 400 pts as rupee breaches 72.50 mark  
Niti Aayog asks auto cos to stick to timeline to achieve full e-mobility  
FastFox registers 3x growth post rollout of revolutionary 'Open House' model  
Jio completes two years, aims to take India to 'top 5' in broadband connectivity  
Gold rises 0.46% on positive global cues  
Rupee pares gains, slips 7 paise against US dollar  
Bajaj Finserv rolls out exciting offers, lowest EMIs on all products  
Gadkari pitches for alternate fuels; says govt not against petrol, diesel  
 
Do you think the police are delaying the arrest of Bishop Franco due to Vatican Pope's interference?
yes
 
no
 
don't know
 
 
 
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