Home / Business / Walmart CEO reviews Flipkart operations, reiterates commitment
ToI Business

Walmart CEO reviews Flipkart operations, reiterates commitment

BENGALURU: Almost a year after Walmart’s acquisition of Flipkart, the US retail giant’s CEO Doug McMillon visited Bengaluru and met senior officials of the Indian e-tailer group to take stock of local operations. McMillon, who is in India for the first time after the government’s FDI-shocker policy implemented from February, did not meet any government official. He plans to fly out on Wednesday morning.

He held multiple meetings reviewing the performance of certain businesses of the company as well as the new targets set out by Flipkart group executives. The Walmart CEO’s visit comes at a time when Flipkart CEO Kalyan Krishnamurthy is trying to stabilise operations in Myntra and Jabong, while the payments business under PhonePe is in early stages of looking to raise capital independently.

After the meeting with officials, McMillon held a town hall meeting with Flipkart staff where questions were asked about PhonePe’s future within the group as well as an impending ‘Indian’ competition from Reliance Industries, which has announced that it will launch an e-commerce business. People who witnessed the meeting said McMillon responded to the question by saying Walmart was as Indian as it can get with platforms like Flipkart, PhonePe and others.

News credit : Indiatimes