Partnership with Flipkart to provide marketplace for thousands of suppliers: Walmart India
Cash-and-carry major Walmart India on Monday said that its partnership with e-commerce giant Flipkart will provide thousands of local suppliers and manufacturers access to consumers through the marketplace model.
Walmart India's statement comes on a day when traders across the country protested against the proposed acquisition of Flipkart by Walmart India.
"In line with the government's FDI policy which allows 100 percent FDI under automatic route in marketplace e-commerce model, our partnership with Flipkart will provide thousands of local suppliers and manufacturers access consumers through the marketplace model," Walmart India said in a statement.
"This partnership will support SME suppliers, farmers in the country to get access to the market through this platform and boost local manufacturing in India."
According to the company, the combined capabilities of the two firms will create India's leading e-commerce platform.
"This will benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers, and women entrepreneurs," the statement said.
As per the statement, Walmart India has supported domestic manufacturing in India by sourcing locally from "SME suppliers, small farmers and Women Owned Businesses".
"India is one of the important countries from where Walmart sources a significantly large volume of products for other Walmart markets," the statement said.
"These products include handicraft, textile, apparel, pharmaceuticals etc, and hence give a boost to local manufacturing and exports."
On Monday, Delhi traders staged a sit-in against the proposed acquisition of Flipkart by Walmart.
The traders, protesting under the lobby group Confederation of All India Traders (CAIT), denounced the deal arguing that it would create "unfair competition" and demanded that the government scrap it.
CAIT Secretary-General Praveen Khandelwal said similar protests were organized at about 1,000 places in several states across the country with over 10 lakh offline and online traders participating in them.
The confederation has already approached the Competition Commission of India (CCI) against the deal and "if the need arises we shall challenge the deal in a court of law including highest court".
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