10 Million Jobs will be Created with the Flipkart-Walmart Deal
US based billion-dollar retailer Walmart, which recently announced that it will buy out 77 per cent stake in Indian e commerce website Flipkart, has a good announcement for the job market.
As per Doug McMillon the Walmart- Flipkart deal will help in creation of 10 million jobs by developing supply chain and commercial opportunities along with investments which will help in creating new direct jobs.
As per a joint statement by Walmart- Flipkart “The deal not only allows both companies to benefits from other’s expertise, but will also boost the Indian economy in terms of jobs creation, income and promoting national initiatives including Make in India.”
The statement also said that Walmart’s collaboration with Flipkart will also support small businesses by procuring directly from them. It said that it will support farmers by sourcing its local inventories.
The deal will also see significant inputs into supply chain, with a focus on cold storage, to check wastage of perishable agriculture produce.
“As Walmart scales in India, the company will continue to partner to create sustained economic growth across agriculture, food and retail. Future investment will support national initiatives and will bring sustainable benefits to the country,” says Walmart.
Walmart had announced earlier this week that it will buy out a 77 per cent stake in Flipkart for about 16 billion dollars.
