{"id":42531,"date":"2023-07-31T08:20:11","date_gmt":"2023-07-31T12:20:11","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/walmart-boosts-stake-in-flipkart-why-u-s-companies-love-india\/"},"modified":"2023-07-31T08:20:13","modified_gmt":"2023-07-31T12:20:13","slug":"walmart-boosts-stake-in-flipkart-why-u-s-companies-love-india","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42531","title":{"rendered":"Walmart Boosts Stake in Flipkart. Why U.S. Companies Love India."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000706376\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Walmart<br \/>\n       has boosted its stakes in Flipkart after paying $1.4 billion to buy out an investor in the Indian e-commerce giant, The Wall Street Journal reported.<\/p>\n<p>The deal further strengthens<br \/>\n        Walmart<span>\u2019s<\/span><br \/>\n       (ticker: WMT) position in the fast-growing Indian consumer market. India surpassed China as the world\u2019s most populous country in April, according to United Nations estimates, and is expected to stretch its lead significantly by 2050.<\/p>\n<div class=\"paywall\">\n<p>The U.S. retailer bought the remaining shares held by hedge fund Tiger Global, the Journal reported, citing a letter written to Tiger\u2019s investors. Walmart paid $16 billion for a 77% stake in the privately held Flipkart in 2018, but recently its stake stood at about 75%, the report added. The transaction values Flipkart at $35 billion, down from $38 billion when it sold shares in 2021.<\/p>\n<p>U.S. tech giants have expanded their footprints in India in recent months, sensing an opportunity.<br \/>\n        Apple<br \/>\n       (AAPL) opened its first two stores in the country in April, with CEO Tim Cook personally visiting India to help with the launch.<\/p>\n<p>In May,<br \/>\n        Amazon<span>\u2019s<\/span><br \/>\n       (AMZN) cloud computing unit announced plans to invest $12.7 billion in the country by 2030 to meet growing demand for cloud services. The commitment will take<br \/>\n        Amazon<br \/>\n       Web Services\u2019 total investment in India to $16.4 billion.<\/p>\n<p>Away from the cloud and back to physical goods, Flipkart is a major competitor to Amazon in India. The Indian e-commerce company appears to have the edge over its U.S. rival, reaching a market share of 48% last year compared with Amazon\u2019s 26%, according to research firm Redseer Strategy.<\/p>\n<p>Walmart\u2019s initial 77% purchase of Flipkart may have seemed expensive but it\u2019s proving a success, enough at least for the U.S. retailer to own more.<\/p>\n<p>A Walmart spokesperson confirmed to <em>Barron\u2019s<\/em> the company has acquired additional shares of Flipkart from Tiger Global but did not disclose the amount.<\/p>\n<p>\u201cWe remain confident in the future of Flipkart and are even more positive about the opportunity in India today than when we first invested,\u201d the spokesperson added.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/walmart-stock-stake-flipkart-india-a67256b5?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart has boosted its stakes in Flipkart after paying $1.4 billion to buy out an investor in the Indian e-commerce giant, The Wall Street Journal reported. The deal further strengthens Walmart\u2019s (ticker: WMT) position in the fast-growing Indian consumer market. India surpassed China as the world\u2019s most populous country in April, according to United Nations [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-42531","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Walmart Boosts Stake in Flipkart. 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