Flipkart has been recently provided with an approval by the Competition Commission of India (CCI) in the field of e-commerce. The same has also been provided to Walmart, which is an American multinational retail corporation. The sources suggest that Walmart has been shown with some faith regarding its ability to work efficiently in the Indian market.
In its official statement, the Walmart welcomed the decisions made by the CCI. Walmart has already been associated with the Indian market and has supported small farmers, manufacturers, and Kirana shop owners.
No Wednesday, the CCI took to its official Twitter handle and tweeted about the agreement to the deal.
In May, it was announced by the company that it would pay 16 billion USD to Flipkart on the first stakes of about 77 percent.
Walmart, also asserted that they have agreed to a partnership with Flipkart because they believe that they can contribute to the market.
They stated, "Our partnership with Flipkart is a testament to our continued confidence in our ability to contribute to this market. Flipkart is a prominent player in India with a strong, entrepreneurial leadership team that is a good cultural fit with Walmart.”
It has become quite clear about Walmart’s interest in expanding its approach towards the Indian market.