WalMart to work closely with tax officials, if possible, will invest more: Doug Macmillan
Walmart Inc.'s President and CEO Doug McMillan says that at the moment, their focus will be on Flipkart.
After investing $ 16 billion (about Rs 1.05 lakh crore) on Flipkart's acquisition, Walmart, the world's largest retailer, would like to invest more in India on future prospects in future. Although Walmart Inc.'s President and CEO Doug McMillan says that at the moment, his focus will be on Flipkart. As far as the tax liability is settled after the deal, Macmillan says that the tax officials will work closely with the authorities and ensure that all rules are followed.
On Wednesday, Wal-Mart, the world's richest retailer, had announced to buy 77 percent stake in Flipkart, the largest Indian company in the e-commerce market. After entering the Indian e-commerce market through Flipkart, Wal-Mart will directly compete with Amazon's American company. Even in the American market there is strong competition from Amazon.
Amazon's American Company
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