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.

Five 'most wanted' ISIS leaders CAPTURED in Iraq
Those held include Syrian national Saddam Jamal, who served as the so-called Daesh governor of Syria's eastern Euphrates region. His tweet came after Iraqi officials confirmed the results of the three-month cross-border operation.

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.

Related Articles

  • In the AHL played the longest match

    In the AHL played the longest match

    Until Krushelnyski - son of former NHL All-Star Mike Krushelnyski - finally beat Alex Nedeljkovic, who finished with 51 saves. The game had started at 7pm on Wednesday night in Charlotte, North Carolina, but lasted six hours six minutes.
    California becomes first state requiring all new homes be built with solar

    California becomes first state requiring all new homes be built with solar

    The commission endorsed the requirement after representatives of builders, utilities and solar manufacturers voiced support. California , the 5 largest economy in the world, is about to mandate the installation of solar panels in all the new homes.
    Is Cannes ready to adapt to the age of #MeToo?

    Is Cannes ready to adapt to the age of #MeToo?

    Taiwanese actor Chang Chen , singer-songwriter Khadja Nin and Loveless director Andrei Zvyagintsev comprise the rest of the jury. Amidst the less starry line-up at the festival, the new " Star Wars " spin-off, " Solo " is the only Hollywood blockbuster.
  • Samantha Bee rips into former NY AG Eric Schneiderman over abuse allegations

    Samantha Bee rips into former NY AG Eric Schneiderman over abuse allegations

    Democrats who've reportedly expressed interest include Singas' old boss, former Nassau District Attorney and current U.S. Kathleen Rice (D-Garden City) - who lost a 2010 Democratic primary to Schneiderman for the AG post - state Sen.
    After cleaning out half the Avengers, Thanos arrives to take over Fortnite

    After cleaning out half the Avengers, Thanos arrives to take over Fortnite

    Epic Games creative director Donald Mustard got a call from Joe, and they started "brainstorming these insane ideas". The new mode will be available for free starting May 8 on PlayStation 4, Xbox, PC, Mac, and iOS.
    Armenia Parliament Voted Pashinyan as PM

    Armenia Parliament Voted Pashinyan as PM

    A year later Pashinian was elected to the National Assembly on the ticket of Ter-Petrosian's Armenian National Congress (HAK). After the plebiscite, thousands of opposition supporters rallied against alleged mass violations at polling stations.
  • Bill Gates Feels Like Shorting Bitcoin If It Was Easy

    Bill Gates Feels Like Shorting Bitcoin If It Was Easy

    At one time in October 2017, the billionaire said the Bitcoin had entered the bubble territory and that it was going to implode. Today, he said, the best companies in China are cheaper as investments than the best companies in the United States.
    Rockets hold off Mitchell, Jazz to win series

    Rockets hold off Mitchell, Jazz to win series

    His desire to play for it all had everything to do with his move to Houston last summer, and this is his chance to follow through. According to the Westgate Superbook ( via ESPN.com ), the Warriors are listed at -185 against the Rockets in seven games.
    Phil Mickelson says Tiger Woods played best golf ever

    Phil Mickelson says Tiger Woods played best golf ever

    Woods took the golfing world by storm after winning the 1997 Masters and proceeded to win 14 majors over the next 11 years. Mickelson had earlier offered effusive praise of just how powerful Woods was in his prime. "I'm close ", said Woods.
  • Rory McIlroy has a hate-love relationship with The Players

    Rory McIlroy has a hate-love relationship with The Players

    He has finished out of the top 20 in just over half his appearances, some of those when he was the most dominant player in golf . Even more remarkable for the No. 1 player in the world is that he has shot in the 60s just three times in 30 rounds.
    Indian fraudsters ridiculed after being paraded in 'space suits'

    Indian fraudsters ridiculed after being paraded in 'space suits'

    Two Indians have been paraded by police in homemade "space suits" after their arrest for a freakish space scam. The British newspaper reported the businessman went to police after handing over more than $260,000.
    Saudis will seek nuclear weapon if Iran does, minister tells CNN

    Saudis will seek nuclear weapon if Iran does, minister tells CNN

    Qatar, alienated by a Saudi-led boycott, said priority must be given to non-proliferation and preventing a nuclear arms race. China's foreign ministry said Beijing would defend the deal and urged parties "to assume a responsible attitude".