We're well-positioned to grow in India, says Walmart CEO Doug McMillon

McMillon, which is betting big on India through Flipkart, said e-commerce penetration is low in India but growing rapidly

Walmart International, the segment which includes the retail giant’s operations outside the US, reported net sales of $35.1 billion, an increase of 6.3 per cent in constant currency in the fourth quarter for FY2021, led by Flipkart in India, Mexico and Canada.

The Covid-19 pandemic has accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency. Changes in currency rates negatively affected net sales by approximately $0.3 billion. The Walmart team is building alternative income streams to complement its traditional retail business, including advertising.
 

“In India, our momentum and potential for growth (e-commerce) make