Walmart is expected to pump in $1.2 billion to fund Flipkart's operations

The retail giant's total revenue increased $1.2 billion or 1 per cent for the three months ended April 30, 2019, due to the addition of Flipkart's net sales besides other factors

Walmart is looking at using $1.2 billion of its cash reserves parked outside the US to fund the operations of Flipkart, the home-grown e-commerce major in India which it acquired for a whopping $16 billion last year. This is expected to give the much-required firepower to Flipkart, which is facing intense competition from Amazon in the domestic digital commerce space.

In a regulatory filing, the world’s largest retailer said that as of April 30, 2019, the company had as much as $2.7 billion of cash reserves generated from jurisdictions outside the US, which could be repatriated to the country subject to