INSUBCONTINENT EXCLUSIVE:
Flipkart would be run as a board managed company with Walmart acting as a resource centre, said the CEO.New Delhi: World's largest retailer
Walmart Inc on Thursday tried to assuage concerns around its $16 billion takeover of Flipkart, saying the deal is good for the country as it
will help create millions of jobs over time and help the economy through local sourcing of goods by the company
Walmart chief executive Doug McMillon played down not being able to meet either Prime Minister Narendra Modi or any senior minister after
announcing the world's biggest e-commerce deal, saying he has had meetings with officials in the past and would have them in future as
"It is pretty clear that this (deal) is good for customers and would create jobs and help society," he said at a select media round table
Prabhu's changing plans at the last moment, he said he did not take the events as cold reception
"I didn't really take it that way," he said
We don't need a photo-op," he said
Soon after the deal was announced yesterday, RSS-affiliate Swadeshi Jagran Manch alleged that Walmart was "circumventing" rules for a
and medium businesses, small shops, and opportunity to create more jobs
Most of these small entrepreneurs are already battling for their existence; entry of Walmart will further create problems for them," the
creation, he said while it is difficult to put a precise estimate to jobs investment in e-commerce space will create, third-party analysis
I don't want to put a timeline but we have analysis to show that," he said
lead times are shorter it also helps create jobs
So this ecosystem built up around our business helps
movement for start-up businesses", helping bring global focus on India
to focus and stay invested and growing in this market (India) for now
For us the bigger focus is to build around the e-commerce ecosystem that we have built rather than taking Flipkart to newer market," he
for capability driven acquisitions but hasn't earmarked a budget for it.(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)
