Foreign retail's rising stake in India

Walmart's India journey reflects not only its survival in a market it considered invaluable but also the country's rise as a preferred destination for businesses, despite the odds

American retail giant Walmart is in the news for its stake in Bengaluru-based e-commerce firm Flipkart, which has now crossed the 80 per cent mark. In a Securities and Exchange Commission filing, the Bentonville-headquartered chain confirmed a few days ago that it had paid $3.5 billion to acquire additional shares, including those from Binny Bansal, who had co-founded Flipkart along with Sachin Bansal (not related to each other) way back in 2007. The latest deal values Flipkart at around $35 billion, ahead of its potential initial public offering. In 2018, when Walmart had acquired a majority in Flipkart for $16