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Good for retail industry: Atul Chaturvedi on Walmart-Flipkart deal

ANI  |  New Delhi [India] 

American Walmart's acquisition of 77 per cent stake in is good for the industry and will create more job opportunities, said Atul Chaturvedi, Additional Secretary, Department of and Promotion,

"It's good for industry. It is good for job creation. It is good for growth of It is going to increase more employment in future," said Chaturvedi, at the CII Retail Conclave, while adding that the government has no involvement in the deal.

"There is no role of the government in this particular process as far as approval is concern. These are all automatic route investment and therefore we have no role to play as far as that particular investment," he said.

said the future of retail in is "extremely bright".

Asked whether they are going to bring onboard one million members on Flipkart-platform, Iyer said: "will continue to operate as an independent and Cash and carry will operate as an Independent We also had in Walmart B2B and nearly 20 per cent of our members are also members of the business.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 06:10 IST