Walmart will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart. It is the largest-ever deal by the U.S. retailer's as it competes with Amazon in an important growth market.
Walmart already does business worth Rs 43,700 crore from India. With Flipkart-Myntra-eBay-Jabong revenues of Rs 22,911 crore in fiscal 2016-17, this figure will increase to nearly Rs 67,000 crore. That is well past the second largest MNC operating in India, Rosneft's Essar Oil, having a business worth Rs 63,722 crore in 2016-17 and a somewhat less than the biggest MNC Maruti Suzuki India's Rs 70,418 crore business owning company.