Flipkart of India raises $1.2 billion led by Walmart

iNDICA NEWS BUREAU India’s e-commerce giant Flipkart Group Tuesday said it closed an additional $1.2 billion equity round to support continued development of its e-commerce marketplace. The investment is led by Walmart, Flipkart Group’s majority owner, along with a group of existing shareholders and values the company at $24.9 billion post-money. The money, Flipkart said, […]

Walmart to develop a robust supply-chain network across India, rather than try to do too many different things: McKenna, president, and CEO of Walmart International

Mihika Agarwal-   It’s been a year since the global retail behemoth Walmart acquired the Indian e-commerce giant Flipkart. Judith McKenna, president, and CEO of Walmart International, who oversees more than 5,900 retail units and 700,000 associates across 26 countries, said she was ‘extremely excited’ about continual investment in India. “Over the course of the […]

Investors welcome fix to angel tax rules in India

Ritu Jha-   John Chambers, chairman of the US-India Strategic Partnership Forum, welcomed the quickness with which the Indian government addressed the issue of angel investors being taxed in that country. “This government has been the most responsive, of any government in the world,” Chambers told indica in the sidelines of the first 2019 west […]