HomeInsideWalmart Chief Doug McMillon seeks a stable business environment in India

Walmart Chief Doug McMillon seeks a stable business environment in India

Reader's Pick

Walmart Inc’s chief executive has written to Prime Minister Narendra Modi seeking certainty and predictability in India’s business environment, the Economic Times newspaper reported on Tuesday, citing people familiar with the matter.

Walmart-owned Flipkart and rival Amazon were forced to overhaul their business models, having been upset by changes made late last year to rules governing foreign direct investment for e-commerce marketplaces.

In January, Walmart told the U.S. government privately that India’s new rules were regressive and had the potential to hurt trade ties, Reuters reported here citing a company document.

In his letter to Modi, Chief Executive Doug McMillon highlighted Walmart’s commitment to India; the ET report said here Reuters was unable to independently review the message or obtain confirmation of its content.

- Advertisement -

Competing for customers ahead of festive season sales, Indian trade groups have recently stepped up opposition against foreign-owned e-commerce marketplaces.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Budget 2023 Should Fouse On Increasing Research Grants to Promote Innovation in Ayurveda: Ameve Sharma of Kapiva

As the Union Finance Minister Nirmala Sitharaman, is all set to present the Ind...

News Briefings: Skillsoft opens in NYSE, Health Startups raises $1 mn, Droom crosses Rs 1000 cr GMV & More

Headlines: Power Gummies raises 1 million dollars from 9Unicorns, Droom crosses...

Budget 2023: “Govt Should Encourage Banks to Increase Funding for NBFCs,” says Parry Singh of Red Fort Capital

As the Union Finance Minister Nirmala Sitharaman, is all set to present the Ind...