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

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Walmart Inc's chief executive has written to Prime Minister Narendra Modi seeking certainty and predictability in India's business environment, ...

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 reported https://www.reuters.

In his letter to Modi, Chief Executive Doug McMillon highlighted Walmart's commitment to India, the ET report said https://economictimes.indiatimes.com/industry/services/retail/walmart-ceo-writes-to-pm-seeks-stable-business-environment/articleshow/71697579.cms. Reuters was unable to independently review the letter or obtain confirmation of its content.

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines