SoftBank has finally confirmed that it will sell the entire stake of 23.6% in Flipkart to Walmart. It was examining the tax burdens after selling the stake in Flipkart. After the deal was sealed, SoftBank found itself in a tight spot and was looking for options to exit as well as to stay in Flipkart. The reason behind the same was a hefty tax burden which the short term exit would attract for S... Read Full Article
Narendra Modi’s loss of control in Karnataka could put pressure on the party to ramp up their spending in order to woo rural voters. This could push back their plans to rein in India. The government’s budget was already in trouble before the events in Karnataka unfolded. BJP failed to form a government in Karnataka.
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Amazon’s India business is valued at $16 billion currently and it is expected to reach $70 billion in gross merchandise volume and $11 billion in net sales by the end of 2027. According to a report by Citi Research, India has emerged as the most valuable retail segment which is valued at $44 billion. This development has come after a week after the Flipkart-Walmart deal where Walmart acqu... Read Full Article