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Are American Taxpayers Loosing Money In Flipkart Deal


 

Walmart has spend $16bn to acquire a 77% stake in Flipkart, India's biggest online retailer. It gives Walmart a foothold in India’s e-commerce market, which has the potential to be bigger than that of China’s. This is according to Porter Erisman, author of Six Billion Shoppers (New York: St. Martin’s Press, 2017). There’s trillions in disposable income waiting in the hands of the masses of poor consumers at the bottom of India’s income pyramid. There are smaller Indian online marketplaces like Snapdeal and Paytm in partnership with Alibaba mining that fortune, too. “Two leading marketplaces, Snapdeal and Paytm, have Alibaba as a partner, which will accelerate the flood of Chinese products,” notes Erisman. “This will lead to tensions and perhaps even restrictions on Chinese goods coming into the country at the same time that “Make in India” is getting a huge push.” Walmart’s biggest US competitor Amazon that already has a large presence in the Indian e-commerce market. Walmart’s offer to acquire a controlling stake in Flipkart is a smart strategic move for its stockholders, but not for American taxpayers who will help pay the bill.
Here is the link to the original article : https://www.forbes.com/sites/panosmourdoukoutas/2018/05/09/walmarts-tax-windfall-will-create-more-minimum-wage-jobs-in-india/2/#559a0386427d ------------------------------------------
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