Reacting sharply to Confederation of All India Traders (CAIT) resolution at a conclave here on Tuesday, to oppose Walmart deal with Indian e-commerce major Flipkart, the multi-national retail major Walmart on Tuesday said the company plans to open 50 cash and carry stores in India in the next few years adding an estimated 2,000 direct and indirect jobs to the economy.
A Walmart spokesman said the company has been operating in India for a decade, with a strong track record of contributing to the Indian economy.
The company’s wholesale cash-and-carry business supports small retailers by providing them high-quality affordable goods, as well as SME suppliers and farmers across the nation by connecting them to its supply chain and global markets, the company said.
It said in line with the government’s policy to allow 100 per cent FDI under the automatic route in the marketplace e-commerce model, its partnership with Flipkart will help create an e-commerce marketplace that will amplify these contributions.
“We believe the combined capabilities of Walmart and Flipkart will create India’s leading e-commerce platform, and will help thousands of local farmers, SME suppliers and manufacturers access consumers through the marketplace model, further boosting local manufacturing and the economy,” the Walmart spokesperson added.
India’s SME suppliers and farmers want to be part of a strong supply chain with reliable markets for their products. Walmart has worked hard to build up this ecosystem in India over the past ten years and to support domestic manufacturers and smallholder farmers to improve their business models, it added.