Walmart chief seeks stable business environment from India's Modi: ET

FILE PHOTO: The Wal-Mart company logo is seen outside a Wal-Mart Stores Inc company distribution center in Bentonville, Arkansas June 6, 2013. REUTERS/Rick Wilking

MUMBAI - 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 reportedIn his letter to Modi, Chief Executive Doug McMillon highlighted Walmart's commitment to India, the ET report saidCompeting for customers ahead of festive season sales, Indian trade groups have recently stepped up opposition against foreign-owned e-commerce marketplaces.

He won't get a stable environment there, because India is on a collision course with Pakistan over Kashmir and water disputes. It's going to be worse..once there is war it's destruction.

He's basically asking the government to allow him to destroy the local businesses and therefore the economy of India.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Brandless executives reveal the e-commerce company's plan to become the CBD market leader - Business Insider'Consumers really trust Brandless and what we stand for,' new chief merchant officer Jen Hagness told Business Insider. $CNAB is producing it right now and making money though. Shut down the stock market. Stop gambling with our lives. Illegal immoral and despicable violation of decency. Disgusting vile male chauvinist playground.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

India Sees Opportunity in Trade Fight: Luring Big Companies From ChinaIndia is making a push to get Apple and other big brands to switch production to India as the risks of manufacturing in China rise with trade tensions. How is it long shunned when the FDI is on upward trajectory ? Long shunned by foreign investors because of greedy govt in the past. This government is more concerned about nation and its people. 2019
Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »