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Walmart CEO says 'committed' to Indian market

Press Trust of India  |  New Delhi/Bengaluru 

Almost a year into writing a USD 16 billion for Flipkart, Tuesday said the giant continues to be committed to the Indian market given the huge opportunity that the country presents.

McMillon, who is on a two-day trip to Bengaluru, also highlighted that a level-playing field is important to ensure growth for businesses operating in the country.

He was accompanied by and (EVP and Regional Asia and Canada). The executives also met the leadership of India, Global Sourcing and

addressed employees in a townhall, where he was asked a range of questions.

According to sources, expressed satisfaction at the progress made by and said Walmart is aggressive on the Indian market given the size of the opportunity.

Asked about the recent regulatory challenges in the Indian market, McMillon said Walmart has operations across multiple countries and complies with local laws in individual markets but asserted that a level-playing field is important and that is what businesses seek.

The government had tightened norms for firms with foreign investment with effect from February 1.

These regulations barred like and from selling products of where they hold stakes and banned exclusive marketing arrangements that could influence product price. A separate policy for the burgeoning sector is also in the works.

At that time too, Walmart had said it was disappointed with the changes but hoped for a collaborative regulatory process going forward that results in a level-playing field.

McMillon lauded the efforts of for the progress made in taking to millions of new customers in

Sources said McMillon also asserted that Flipkart should maintain its leadership position in the Indian market.

said McMillon is in for an internal business trip.

"As part for the trip, he interacted with Flipkart's leadership team and employees. He is delighted with the progress the team is making to take to next 200-300 millions customers in India, and bring a great selection through right affordability construct to consumers in the country," Kumar said.

McMillon also commended Kalyan, CEO and the team for their role in leveraging technology and innovation for solving challenges in India's digital commerce.

Krishnamurthy said Walmart's long-term, strategic partnership with Flipkart was immensely valued by everyone.

McMillon is visiting at a time when Flipkart is locked in an intense battle for market leadership in with American giant India's richest man has also announced ambitious plans of an to tap into the country's digital shopping segment that is forecast to touch USD 200 billion in the next few years.

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

First Published: Tue, April 16 2019. 20:25 IST