Business

Walmart to purchase majority stake in Indian e-commerce giant

By Joe Williams
Published May 9, 2018 12:41pm ET
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Walmart to purchase majority stake in Indian e-commerce giant
The future impact of rising tariffs due to President Trump's global trade disputes is difficult to quantify, says Walmart CFO Brett Biggs.

Walmart is making a $16 billion investment in India’s e-commerce giant Flipkart, representing a 77 percent stake in the company.

The move will allow Bentonville, Ark.-based Walmart to better compete against companies like Amazon in India, a major growth market for the retail industry.

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India Internet Mergers and Acquisitions Retail