Walmart Buys 77% Stake In Flipkart For $16 Billion || Mega Deal
Walmart CEO Doug Macmillan said that a deal between Flipkart-Walmart would benefit India. There are millions of jobs in some time. It is good for the Indian economy to get locally local goods. Walmart announced Wednesday that it will acquire 77 percent stake in Flipkart with 16 billion dollars, but the Prime Minister did not have much priority to join the Modi and other senior ministers. Macmillan said he had met before the deal with the authorities and would be meeting again in the future. Remembering that Walmart was not new to India. After declaring the deal on Wednesday, Swamy Jagran Manch demanded the Prime Minister to interfere in the welfare of the Walmart regulations. “This deal is good for customers. Make good for society by creating jobs, “Macmillan said at a media roundtable meeting. There is no problem getting regulatory approvals for the purchase of Flipkart.
Employment opportunities will increase
McMillan commented on the exact figures on how many jobs will be purchased by buying a Flipkart. Third-party research details are mentioned by giving direct and indirect employment opportunities for millions. “There will be another million jobs for some time. However, I can not tell you the exact time. ” There will be jobs in the company on the Flipkart platform rather than the company. In the Walmart operations, 90 percent of cargo handling is available locally. Flipkart is specifically a board-led company, Walmart explained that it was a resource center and co-founder Binny Bansal would be the CEO.
Another 50 Walmart stores
We will have 50 stores in India in the next 4-5 years, said Walmart India President and CEO Chris Iyer. Wholesale Cash and Carry will continue to expand the business. I will open 5 stores later this year and I will open 12-15 stores annually, “Aiyar said. Walmart operates 21 cash and care stores in 19 towns in 9 states now called Best Price. They will continue to live in the present areas and will focus on AP, Telangana, Maharashtra, Uttarakhand, UP, Punjab and Haryana. Walmart is expected to use pickup and delivery centers for sale on Flipkart stores for Best Price stores.