From Flipkart vs Amazon, Now it's Walmart vs Amazon

From Flipkart vs Amazon, Now it's Walmart vs Amazon

Meanwhile, a spokesperson of the All India Online Vendors Association (AIOVA), which has 3,500 sellers on large platforms like Flipkart and Amazon, said it is "closely going to monitor how Walmart is increasing its control over Flipkart marketplace".

Flipkart has been under pressure from Amazon since it arrived in India five years ago.

Walmart, in collaboration with Flipkart will support small businesses and "Make In India" through direct procurement as well as increased opportunities for exports through global sourcing and e-commerce.

"This investment is of enormous importance for India and will help fuel our ambition to deepen our connection with buyers and sellers and to create the next wave of retail in India", said Binny Bansal, one of the original founders of Flipkart.

After failing to make a serious dent in other big foreign markets such as China, Brazil, Germany and UK, US retail behemoth Walmart wants India to be its foreign success story.

Mr. Khandelwal has demanded that Government should immediately frame a national policy for e commerce and constitute a Regulatory Authority to regulate and e commerce business in India and till such time, the deal should be put in abeyance by the Government and a close scrutiny should be held in the entire deal.

McMillon further reiterated that the Flipkart deal was good for the country as it would help create millions of jobs over time and help the economy through local sourcing of goods by the company.

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The combination with Walmart could be controversial, with concerns about how a deal might affect India's smaller retailers.

While Flipkart isn't expected to be profitable soon, Gutman does believe there is long-term growth potential in India.

Flipkart had net sales of $4.6 billion in its latest fiscal year.

It also said that the deal included $2 billion of funding from new equity in Flipkart, which could be sold to additional investors in the future, diluting the USA company's overall stake. McMillon has led Walmart's efforts to boost worldwide business.

Mumbai: Wealth managers are making a beeline for individuals who made windfall gains in Thursday's blockbuster Flipkart sale, hawking their services for a batch of multi-millionaires from co-founder Sachin Bansal to employees vesting their stock options. Walmart will be able to give Flipkart the kind of funds needed to win this fight, and also bring along with it the long-term experience of knowing the retail market, giving Flipkart a formidable push forward.

Post-acquisition, both the partners will leverage their strengths but will maintain their distinct brands and operating structures. Even if the market grows to $200 billion by 2026 as a 2017 Morgan Stanley report estimated, Flipkart will face steep competition from Amazon, Alibaba, and other domestic players.

"The deal indicates attractiveness of India's consumption market for global majors. we expect greater thrust on the online grocery segment", said rating agency Crisil Research director Ajay Srinivasan in a statement here.

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