Ecommerce firm Amazon has infused ~1,600 crore into its India entity Amazon Seller Services, according to its regulatory filings. The funding comes at a time when the company is seeing opportunities in emerging geographies, including India. The regulatory filings are dated April 15. This is the second time in five months that Amazon invested in its India arm Amazon Seller Services. Before this, Amazon had infused over ~1,000 crore into its Indian entity this year.
Walmart, the world's largest retailer, is hoping to get more than 30,000 consumers through its e-commerce pilot project that will be launched in the first week of July.
Walmart acquired Bharti's 50 per cent stake in the wholesale joint venture.
Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
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Walmart is getting embroiled in one controversy after the other in India. Political parties in opposition are already rallying against FDI in retail. Can it still manage to launch its retail business successfully in the country?
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
Walmart is waiting to understand as to how much multibrand retail might or might not move forward.
The retail giant tries to strengthen its e-commerce presence, sensing competition globally
The chain readies to expand its footprint as Bharti focuses on its retail venture.
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Given a history of labour issues, the latest protest in US Walmart stores is important.
A leading Brazilian poultry company has also expressed keen interest in joining hands with Kishore Biyani's Future Group to sell their products in the country
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
In its latest lobbying disclosure report filed with the US Senate and the House of Representatives for the quarter ended March 31, 2013, the various lobbying issues of Walmart during the period included 'discussions related to FDI (Foreign Direct Investment) in India'.
If Walmart is spinning success stories of Indian manufacturers in global markets, Amazon is taking 'Make in India' to the world, bolstered by its 'Global Selling Programme'
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
While the world's largest retail chain is calling it a promotion, experts said the group may be looking at a new growth strategy for Asia.
The government will initiate fresh action against Walmart if an ongoing 'foreign corrupt practices' probe by US authorities reveals any violation in India by the global retail giant.
The company launched its first store in Amritsar in May, 2009.
In the ongoing saga of senior management resignations, Wipro announced on Monday that its chief technology officer (CTO) Subha Tatavarti has resigned. Her resignation will be effective from August 16, 2024. In a regulatory filing, the company said: "Subha Tatavarti, CTO, resigned from the services of the company to pursue opportunities outside Wipro."
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
In a filing with the US Security and Exchange Commission on Friday, Walmart said it would allow the initial public offering of Flipkart in four years at a valuation no less than what it invested in the e-commerce firm, if a grouping of minority shareholders asks for it.
The new deal will value Flipkart at close to $19 billion on the secondary market, a huge jump from Walmart's initial offer to investors.
In a move that is being seen as a snub to Walmart, Commerce and Industry Minister Anand Sharma on Thursday cancelled a meeting with US retail giant's Asia head Scott Price.
Sources say the US retail giant's chief reluctant to meet again after Nov 1 meeting was cancelled
PhonePe wants to dethrone its Alibaba and SoftBank-backed rival, Paytm, claiming that additional capital that Walmart will bring to the table will help it grow much faster
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
'If you allow Walmart to operate in India, our manufacturing will finish completely.' 'What will happen to Narendra D Modi's dream then? There will be no Make in India.'
The Walmart chief stated that the values of the two companies were "very much aligned"
Global retail giant Walmart - waiting for years to open its supermarkets in India -- has been lobbying with the US lawmakers since 2008 to facilitate its entry into the highly lucrative Indian market.
US-based Walmart Stores Inc on Wednesday said it is tightening anti-corruption practices in India, amidst reports of US lawmakers asking the retail giant to review its operations in the country along with those in four other nations.
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Traders were up in arms, fearing huge job loss if Walmart was to enter.
Walmart, the world's largest retailer, on Tuesday said that its sourcing from India could increase to 'hundreds of millions' of dollars within 4-5 years, thus, making the country an export hub for its global operations.
Bharti Walmart will also go slow on planned rollouts of its cash-and-carry stores in the country until this investigation into violations of the US Foreign Corruption Practice Act reaches a conclusion.
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