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.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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