Walmart has been operating in China since 1996 but for the first time India is poised to emerge as the largest international market for the retail giant this year, a top company executive said.
This and more in today’s edition of ETtech Top 5.
Also in this letter:
■ Sebi thinking of PCVs for long-term funding
■ ADIA looking to pick up $500-mn stake in Lenskart
■ Infographic Insight: Foxconn’s India play
India to top China as largest international market in 2023: Walmart CFO
“I believe India is going to be the largest market in the world this year, surpassing China. It’s a really promising opportunity in the future,” Walmart CFO John David Rainey said at the company’s annual institutional investors call.
Why is it significant? The Bentonville-headquartered retail giant is the majority owner of the ecommerce marketplace Flipkart as well as the payment app PhonePe. Flipkart has…
