FLIPKART DEAL TO CREATE 10 MILLION JOBS IN INDIA

According to reports, the CEO of Walmart, Doug McMillon said that the Flipkart-Walmart deal will create around 10 million jobs in India including direct and indirect jobs. The US-based retail Walmart on Wednesday announced that it will buy 77% stake in the Indian e-commerce major Flipkart for $16 billion.

"As Walmart scales in India, the company will continue to partner to create sustained economic growth across agriculture, food and retail. Future investments will support national initiatives and will bring sustainable benefits to the country," the Bentonville, Arkansas-based retail behemoth said in its statement.