India’s retail market to reach $1 trillion by 2025: Doug McMillion, CEO,Walmart
26th August 2021, Mumbai:
Doug McMillion, CEO, Walmart believes Indian retail market is poised to grow to over $1 trillion by 2025. Speaking at the Converge@Walmart event, he advised the company think and execute locally.
Currently, not allowed to make a foreign direct investment in multi-brand retail in the country, the company operates in a different way. It expects to see generation skipping in India and it hopes to apply the learnings from this market to other countries.
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He pointed out Walmart’s Flipkart business has reached over 300,000 marketplace sellers, while the PhonePe business has more than 300 million users. Flipkart competes with US e-commerce giant Amazon in the Indian market. It recently raised $ 3.6 billion valuing the e-commerce company at $38 billion.
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