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Two agents who helped Walmart and Bharti Enterprises obtain store licenses have filed cases against the companies for not clearing their dues for the last three years. 
 
The companies severed ties with about two dozen such agents and consultants in June 2012 when Walmart was investigating whether its local unit had violated US anti-bribery laws. 
 
The company will freeze its expansion plans for India with the opening of its 21st store in Agra this August. 
 Bharti and Walmart informed it’s agents that <keyword id="158162" type="COMPANY" weightage="80" keywordseo="Bharti-Walmart">Bharti Walmart</keyword> has the right to audit their financial documents, and KPMG was contacted to do that. The consultants were also told to list their dues so they can receive payments. 
 
"They haven't paid us even after three years," said Rajesh Gupta, an agent says. He claims Walmart owes him about Rs. 10 lakhs and Bharti about Rs. 40 lakhs. He had filed cases against the companies in Delhi's Patiala House district court. 
 Lawyer Peeyoosh Kalra said he had filed a case against Walmart on behalf of an agent in the Delhi High Court. "There is no pending case between <keyword id="117289" type="COMPANY" weightage="80" keywordseo="Bharti-Retail">Bharti Retail</keyword> Ltd and any of its service providers in relation to the licenses," a Bharti Retail spokesperson said. 
 "There have been a very small number of commercial disputes during the business transition as we became fully owned subsidiary in 2014. Majority of these issues have now been resolved," said Rajneesh Kumar, Vice president &amp; head corporate affairs at <keyword id="6372175" type="COMPANY" weightage="80" keywordseo="WalMart-India">Walmart India</keyword>. 
 
(Image: Indiatimes)

Former Walmart and Bharti Enterprises agents drag
companies to court

It might have been an indication of how things were to progress when <keyword id="46675" type="CITY" weightage="40" keywordseo="Wal-Mart">Wal-Mart</keyword>’s CTO <keyword id="1015034" type="UNKNOWN" weightage="40" keywordseo="Jeremy-King">Jeremy King</keyword> visited the country in September 2012. In a run-up to setting up the business and harnessing the FDI-favourable <keyword id="6366415" type="UNKNOWN" weightage="40" keywordseo="atmosphere">atmosphere</keyword> in India, the biggest global retailer had sent its top executive to hold meetings with the top brass of India, including a meeting with <keyword id="2540" type="POSITION" weightage="40" keywordseo="President">President</keyword> <keyword id="6359124" type="PERSON" weightage="40" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword>. 
 
But that was a visit which was simply ‘not to be.’ Right from the beginning, the jinx continued. Upon his arrival in Bangalore (along with his team of executives) in a chartered flight from the US, King was told his visa had expired even before his arrival. He was then given a 3-day temporary landing permit, with a Bangalore-only caveat. Hurried meetings over, King left India. Obviously, this cost someone in King’s office his job. 
 From then on, the talks didn’t seem to progress smoothly for Wal-Mart or its US team or even the team it had set up in India. After being at the helm of affairs and paving the way for Wal-Mart’s Indian <keyword id="45535" type="UNKNOWN" weightage="40" keywordseo="Saga">saga</keyword>, Raj Jain, <keyword id="5645" type="POSITION" weightage="40" keywordseo="CEO">CEO</keyword> of <keyword id="303382" type="COMPANY" weightage="60" keywordseo="Bharti-Walmart-Pvt-Ltd">Bharti Walmart Pvt Ltd</keyword>, quit the post, even as the global retailer was working out the details of its India operations. Quite a blow it was. 
 But try not to be myopic here. First of all, the company was battling its own issues. But the <keyword id="44734" type="ORGANIZATION" weightage="60" keywordseo="Indian-Government">Indian government</keyword>’s hesitant steps towards opening <keyword id="254856" type="ENTERTAINMENT" weightage="40" keywordseo="The-Doors">the doors</keyword> for Wal-Mart and creating a feasible <keyword id="6356826" type="COMPANY" weightage="40" keywordseo="environment">environment</keyword> by allowing 51% <keyword id="44528" type="ORGANIZATION" weightage="40" keywordseo="FDI">FDI</keyword> in multi-brand retail only compounded those issues. There are versions that speak of Wal-Mart’s desperate attempts to enter the <keyword id="47445" type="UNKNOWN" weightage="40" keywordseo="Indian-market">Indian market</keyword>, even while battling the charges in the US. Mysteriously enough, the same kind of charges involving corruption and bribery followed the retail giant in India as well. 
 
If the reason for this was obvious, it’s because there was no way this could be dressed in any other garb to camouflage it. While the government was in the process of drafting a Press note that would effectively allow foreign companies to breach the investment levels as per their convenience, it was leaked to the media. That was probably another major blow. The Opposition bayed for government’s blood over that and the government’s just shrugged them aside. 
 
Wal-Mart’s internal structure was not conducive either, to make things happen or focus on a midway to create inroads on its own. The highly volatile atmosphere within Wal-Mart’s India team only contributed to the lost ground. Losing some big players had cost the retail giant dearly. 
 
Typically, foreign companies will have to ally with local partner/s to run businesses in the country. But in order to favour the entry of more companies under FDI, the government had relaxed the rules and created a leeway of sorts – by stating that the companies could set up business by buying 30% of locally manufactured products from small and medium-sized local sellers with nearly $2 million invested in industry and machinery. 
 
But none of this was ‘favourable’ enough for Wal-Mart. In a recently concluded interview, a top brass from Wal-Mart said this “just wasn’t enough” to set up a retail chain in India. “The entry barriers are simply difficult to cross. They aren’t workable,” the executive added. 
 
Wal-Mart had expected a levelled playing field with local traders and businessmen, as against global retail operations. Wal-Mart had clearly not got its logic together, which eventually proved that the company didn’t get its act together either. 
 
Although a tie-up with Wal-Mart would have given Bharti an edge and a phenomenal learning advantage in operating international-standard retail chains, experts feel that the loss of Wal-Mart in this deal is bigger than that of Bharti. The estranged Indian partner of the global retailer will open its own chain of supermarkets very soon, all over India. 
 It means these former partners will become competitors in the near future. Now, <keyword id="130164" type="UNKNOWN" weightage="40" keywordseo="The-Game">the game</keyword> has begun. 
 The entire episode has spooked foreign investors regarding red tapism and other difficulties in getting their operations on the ground in India. A sagging <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword> and rising <keyword id="22195" type="COMPANY" weightage="40" keywordseo="Inflation">inflation</keyword> are threats as well. The only solace, however, is the falling <keyword id="6355302" type="ORGANIZATION" weightage="40" keywordseo="Rupee">rupee</keyword> which is giving them the breather. 
 
With the deal falling through, Wal-Mart may well have nailed its own coffin in India. But this may not be entirely good for the country’s investment weather either.

Retail Wars: Why Wal-Mart’s India Plans
Hit A Wall

<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> wants to buy a 60% stake in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’s <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. </li><li>Amazon’s bid may complicate matters for <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>, which has also been trying to buy a stake in Flipkart. </li><li>Flipkart had refused another offer from Amazon two years ago.</li></ul>Amazon has reportedly made a formal offer to to <a href="https://www.reuters.com/article/us-flipkart-m-a-amazon-com/amazon-offers-to-buy-60-percent-stake-in-indias-flipkart-cnbc-tv18-idUSKBN1I30WA">buy a 60% stake in Indian e-commerce firm Flipkart</a>. The offer could complicate matters for Walmart, which has also been trying to buy a majority stake in the company. Flipkart is Amazon's primary competitor in the country. Earlier, sources told Reuters that Walmart may be able to strike the deal soon and was en route to spending $10-12 billion by the end of June for that. According to CNBC-TV18's report, Amazon has offered a breakup fee worth $2 billion to Flipkart. If successful, the deal would be the biggest Amazon has made in India so far. However, reports say that Flipkart had refused another offer made by Amazon two years ago. The company was trying to buy 51-55% of Flipkart at the time. While it is unclear how much Amazon's current bid is worth, it is expected to be on par with what Walmart is paying. Walmart had entered India back in 2007, through a joint venture with Bharti Enterprises. That's before Amazon made its entry into this market, Walmart's deal with Bharti was called off in 2013 when Amazon was well established in India. However, Walmart still owns 21 wholesale cash-and-carry supermarkets in India right now. Amazon, on the other hand, has been making waves in the country's <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> space, earning a significant market share.

Amazon just made a formal offer to buy 60% of its chief competitor in India

<div class="KonaFilter image-container float_right"><div class="image on-image"><keyword id="80487" type="COMPANY" weightage="60" keywordseo="walmart">Walmart</keyword> Media Relations</div></div>Wal-Mart is the predominant retailer in the world, with an estimated 35 million shoppers per day. 
But Wal-Mart hasn't been able to succeed in four major countries, reports <a href="http://www.businessweek.com/articles/2013-10-10/where-walmart-isnt-four-countries-the-retailer-cant-conquer">Susan Berfield at Bloomberg Businessweek</a>: 
<ul>
<li>
India. Wal-Mart faces several obstacles in India. This week, it cut ties with its Indian partner, Bharti Enterprises. The country would also require 30% of products to be sourced from small and medium Indian businesses, which the company called a "critical stumbling block," <a href="http://www.businessweek.com/articles/2013-10-10/where-walmart-isnt-four-countries-the-retailer-cant-conquer">Berfield reports</a>. The Indian government is also investigating Wal-Mart for allegedly violating foreign <keyword id="6354851" type="ORGANIZATION" weightage="100" keywordseo="Retail">retail</keyword> investment rules. 
</li>
<li>
Russia. Wal-Mart spent six years trying to acquire a local chain, but ended up closing its Moscow office after failing to do so. 
</li>
<li>
Germany. "Germans didn't like Walmart employees handling their groceries at the check-out line. Male customers thought the smiling clerks were flirting. And many Europeans prefer to shop daily at local markets," Berfield writes. 
</li>
<li>
South Korea. Wal-Mart marketed items like electronics, when South Koreans prefer to spend their money on food and drinks, according to Businessweek. 
</li>
</ul>
Wal-Mart's failures in four major countries shows there are some obstacles even the world's most powerful retailer can't overcome.

4 Countries That Wal-Mart Has Failed To Impress 

As the US retail major <keyword id="80487" type="COMPANY" weightage="80" keywordseo="walmart">Walmart</keyword> returns focus on India after a gap of two years, it is now eyeing the cash-and-carry business in the country in order to strengthen its base.
 The biggest foreign retailer is planning to come up with a new cash-and-carry store in <keyword id="6356295" type="COMPANY" weightage="60" keywordseo="Agra">Agra</keyword>. Earlier in 2012, the company had opened its last store in <keyword id="6355556" type="COMPANY" weightage="80" keywordseo="bhopal">Bhopal</keyword>. 

	“Walmart is committed to India and we are focused on our growth plans… We have recently received all internal approvals for opening a new store in Agra, our second one in the city. Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year,” Walmart spokesperson told PTI.
 

	Across nine Indian states, Walmart runs 20 cash-and-carry stores under brand Best Price. The company had earlier made an announcement to come up with 50 wholesale stores in the next 4-5 years.
 

	Walmart, which operates B2B e-commerce platform in four cities in India — Lucknow, Hyderabad, Guntur and Vijayawada, will also extend its online platform in all its stores in 2015. “We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015,” Walmart said.
 In October last year, the company had pulled down the curtains on 6-year partnership with <keyword id="117954" type="CITY" weightage="60" keywordseo="Bharti-Enterprises">Bharti Enterprises</keyword>, and decided to operate stores independently in India. 
	(Image: Walmart Media Relations)

Walmart To Open Cash-and-carry Store In Agra

The Big Bs of Indian retail market, Bharti Retail and Kishori Biyani are teaming together reveals an The Economic Times report. It states that Bharti Retail and Kishore Biyani-led <keyword id="44949" type="CITY" weightage="80" keywordseo="Future-group">Future Group</keyword> are eyeing a merger of their retail businesses, in what could lead to the biggest consolidation in the sector by a wide margin. 
 
The plan involves the larger Future Group absorbing Bharti Retail in a largely stock deal. After this, the promoters of Bharti Retail — brothers Sunil, Rakesh and Rajan Mittal — are expected to get a minority stake in the combined entity or in one of the Biyani-promoted entities that controls his businesses.. The swap ratio and other key details are yet to be worked out, they said. One of them said due diligence is expected to be completed by end-May. 
 In the past three years, Biyani has streamlined his retail empire into three separately listed entities — Future Retail Ltd, <keyword id="2608104" type="COMPANY" weightage="60" keywordseo="Future-Consumer-Enterprises-Ltd">Future Consumer Enterprises Ltd</keyword> and Future Lifestyle Fashion, an apparel retailing company. The hyper and supermarkets — food and grocery retail chains Big Bazaar, Food Bazaar and Food Hall — are included in listed flagship Future Retail. The convenience stores — Nilgiris, KB's Conveniently Yours, Big Apple and Aadhaar — are part of Future Consumer, also listed. 
 Future Consumer also owns food parks and more than three dozen <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword> brands. 
 
This move highlights promoters’ willingness to take bold, strategic steps at a time when the profitability of large retail chains across the country continues to remain under pressure due to higher overhead expenses such as rentals and low product margins. 
 <keyword id="112509" type="CITY" weightage="80" keywordseo="Bharti-Group">Bharti Group</keyword> doesn't comment on market speculation, a spokesperson told ET. Kishore Biyani, group CEO of Future Group, denied that any merger talks between the two were taking place. "Nothing like that is happening," he told the financial daily over the phone. 
 Bharti Retail, a wholly-owned subsidiary of <keyword id="117954" type="CITY" weightage="80" keywordseo="Bharti-Enterprises">Bharti Enterprises</keyword>, runs a chain of 216 hypermarkets, convenience stores and supermarkets under the Easyday brand, concentrated in the northern region with a few in the South and West. After Bharti broke off its partnership with Walmart in late 2013, the retail business is not a core activity for the telecom-to-financial services conglomerate, analysts told the financial daily. 
 
(Image: India Times)

This could be the mother of all retail deals in a while

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Wal-Mart US CEO Greg Foran has spent a lot of time visiting the company's stores since he took the helm eight months ago. With sales in the US lagging, Foran has traveled to Wal-Mart stores across the country in search of ways to improve customers' experiences with the retailer.Foran shared what he learned during his travels in a meeting with investors on Wednesday. Here's what he said:1. Many Wal-Mart stores lack cleanliness and tidiness. "We want this year to be the year of improving our stores," Foran said, according to a <a href="http://seekingalpha.com/article/3046106-walmart-stores-wmt-u-s-strategic-update-conference-call-transcript?part=single">transcript</a> of his remarks. "So by the time we hit holiday season, our stores are clean, tidy, well merchandised and run by engaged associates. Today in the main, we're not."2. Stores aren't restocking shelves fast enough. "We've got too much inventory in the back rooms and our processes are not where we want them to be and that's causing some undue shrinkage and some out-of-stocks," Foran said.The company has already started to implement some changes to fix these issues, such as marking down foods that are nearing their expiration date to reduce the amount of food that goes to waste.3. Store layout and design compromises customer convenience and space in some cases. "Both Supercenters and Neighborhood Markets have potential to be better" when it comes to layout, design, lighting, and even store temperature, Foran said. "Some of the stores recently opened in our opinion are not quite as good as ones that we had opened in previous years," he said.4. Digital services need to be integrated with physical stores.For example, Wal-Mart wants to allow customers to order groceries online for in-store pickup and delivery - a service which the company is currently testing in some areas.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div> 5. The retailer needs to improve traffic-driving side businesses like gas, care clinics and financial services. "We have a mindset that we are building scalable profitable businesses whilst driving additional traffic to our stores," he said. "Consider how important pharmacy is to Supercenters and Neighborhood Markets as a traffic driver."6. Prices aren't always as low as competitors'."While we have pockets of leadership [on price], in more competitive markets, our gain is too small," Foran said. 7. The brand needs to offer a wider product assortment in general merchandise, fresh produce, grocery and private label. "When we get the assortment right, we know that the customers respond," Foran said. 8. The Bentonville, Arkansas headquarters needs to be focused on customer service. "Our job at the home office in Bentonville is to serve the stores to in turn serve customers. Sam Walton, founder of our business based on this principle," Foran said. "But to be frank, in some recent years, we've slipped a little away from this. We've recently undertaken some important activities to simplify our organization and empower our stores, our associates in our stores to make decisions, but [there's] more to do." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Wal-Mart CEO reveals the company's 8 biggest problems

<ul><li>Two weeks ago, American retail giant Walmart laid off 56 employees across levels — including eight senior-level executives. </li><li>Over 36 Indian executives that were impacted by the move have now reached out to the US headquarters of the retailer quoting layoffs to be ‘unfair’ and not performance-based. </li><li>Given that, a compliance team from the US office may visit India to conduct a thorough investigation on the development. </li><li>The downsizing happened as the retailer saw little scope in adding physical stores in the country. </li></ul>Two weeks ago, American retail giant <a href="https://www.businessinsider.in/careers/news/walmart-sheds-brick-and-mortar-weight-as-it-plans-to-go-online-with-flipkart/articleshow/73220455.cms?src=hp_nav">Walmart laid off employees across levels</a>— including those in the senior management — as it moves from physical stores to e-commerce business. On Monday, over 36 Indian executives that were impacted by the move, reached out to the US headquarters of the retailer quoting layoffs to be ‘unfair’ and not performance-based. “We have written to them individually as well as a group because the company went ahead with the firing process even after an assurance in December that there will not be any layoffs. Some had even threatened to be whistleblowers in recent real estate deals where due process was not followed,” ET <a href="https://m.economictimes.com/industry/services/retail/fired-walmart-india-executives-write-to-headquarters/articleshow/73642285.cms">reported</a> citing three former executives. Given that, a compliance team from the US office may visit India to conduct a thorough investigation on the development. However, the retailer claims to have a strong ethical programme in place and the company will review allegations seriously. “We are committed to growing in India, doing so in compliance with all applicable laws and in a way that benefits our associates, local businesses and the communities where we operate,” a Walmart spokesperson <a href="https://m.economictimes.com/industry/services/retail/fired-walmart-india-executives-write-to-headquarters/articleshow/73642285.cms">told</a> ET. Walmart had earlier confirmed that it has laid off 56 employees, including eight in the senior management — adding that the impacted employees shall be offered severance benefits and outplacement services. The downsizing happened as the retailer sees little scope in adding physical stores in the country. It may put more weight behind Flipkart — which it bought for ₹1.13 lakh crore in 2018. However, Walmart’s exit from physical stores coincides with Flipkart’s expansion to the food retail segment in India. Flipkart FarmerMart is aimed to sell local products online — directly to consumers. Yet another online-physical combination — Amazon and Future Retail too are bunching their strategies together as they prepare for an onslaught from India’s richest man — Mukesh Ambani, who is planning to merge Jio’s digital capabilities with his retail venture JioMart which recently marked its e-commerce debut. Walmart entered wholesale business in India in 2007 with the Bharti Group. It currently runs 28 'Best Price' Modern Wholesale Stores — selling to small shopkeepers — across the country. The retail major has over 5,000 employees in India — including 600 based at its head office, Business Standard <a href="https://www.business-standard.com/article/companies/walmart-india-fires-around-50-executives-as-part-of-restructuring-report-120011300200_1.html">reported</a>. See also: <a href="https://www.businessinsider.in/careers/news/walmart-sheds-brick-and-mortar-weight-as-it-plans-to-go-online-with-flipkart/articleshow/73220455.cms?src=hp_nav">Walmart sheds brick and mortar weight as it plans to go online with Flipkart</a> <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-e-commerce-venture-jiomart-makes-a-silent-debut-calls-for-pre-registrations/articleshow/73046911.cms">Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rushes-to-bring-kishore-biyani-future-group-online-days-after-mukesh-ambani-jiomart-launch/articleshow/73116395.cms">Amazon rushes to bring Kishore Biyani’s Future Group online, days after Mukesh Ambani’s JioMart launch</a>

The curious case of Walmart India layoffs and whistleblower allegations reaches US headquarters

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> has put a halt to its expansion plans in India — sacking nearly 56 employees. </li><li>The retailer is shedding brick and mortar weight as it sees no scope in placing physical stores in the country and may go online with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. </li><li>The development comes in the backdrop of Reliance <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>’s debut in the ecommerce space. </li><li>The company’s wholesale business has been suffering losses. The company recorded accumulated losses of ₹2,181 crore as of March 2019, as per Economic Times report.</li></ul>American retail giant Walmart has put a halt to its expansion plans in India — sacking nearly 56 employees. This is almost a third of its senior talent pool. "We are looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organized in the right way. As part of this review, we have let go 56 of our associates across levels at the corporate office. All of the 56 impacted associates -- 8 in the senior management and 48 in the middle and lower management -- have been offered enhanced severance benefits and outplacement services to support their transition.” said Krish Iyer, President &amp; CEO, Walmart India. The retailer sees little scope in adding physical stores in the country. It may put more weight behind Flipkart — which it bought for ₹1.13 lakh crore in 2018. This is as rival Reliance JioMart’s made its debut in the ecommerce space. “It’s happening because focus is shifting to e-commerce rather than physical (stores),” said the company. The American multinational reportedly laid off executives including vice presidents across verticals — agri business, FMCG and real estate — at its Gurgaon headquarters. More exits are expected in three months time. However, the company has denied the anticipations regarding more layoffs. "A report appearing in the section of the Press speculating second round of layoffs in April is baseless and incorrect.," it said. It also plans to shut a fulfillment centre in Mumbai as the company’s wholesale business is suffering losses. The company recorded accumulated losses were at a massive ₹2,181 crore as of March 2019, as per Economic Times report. Walmart’s exit from physical stores coincides with Flipkart’s expansion to the food retail segment in India. Flipkart FarmerMart is aimed to sell local products online — directly to consumers. Yet another online-physical combine - Amazon and Future Retail too are bunching their strategies together as they prepare for an onslaught from India’s richest man - Mukesh Ambani and his ostentatious plans to merge his digital capabilities with Jio to his retail venture, JioMart. "Our members are increasingly becoming omni-channel shoppers. We are thus investing heavily in technology and have a healthy pipeline of Best Price stores. This will provide our members a true omni-channel and convenient shopping experience in the future.," Walmart said. Walmart entered wholesale business in India in 2007 with the Bharti Group. It currently runs 28 'Best Price' Modern Wholesale Stores — selling to small shopkeepers — across the country. The retail major has over 5,000 employees in India — including 600 based at its head office, Business Standard <a href="https://www.business-standard.com/article/companies/walmart-india-fires-around-50-executives-as-part-of-restructuring-report-120011300200_1.html">reported citing sources</a>. See also: <a href="https://www.businessinsider.in/business/ecommerce/news/jiomart-launch-date-january-26-mukesh-ambani-ecommerce-debut-will-include-electronics/articleshow/73141917.cms">EXCLUSIVE: JioMart will launch mobile phones and electronics on January 26 and soon, everything under the sun in e-commerce</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-invest-in-ninjacart-that-has-1200-warehouses-for-grocery-delivery/articleshow/72468829.cms">Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cmshttps://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cms">Walmart-owned Flipkart invests ₹28.3 billion into its India unit</a>

Walmart sheds brick and mortar weight as it plans to go online with Flipkart

New Delhi, Jun 4 () E-commerce giant Amazon is in exploratory discussions with telecom operator Bharti Airtel for a possible investment, according to sources. While the investment amount could not be immediately ascertained, a report pegged it at about USD 2 billion. When contacted, a Bharti spokesperson said, "We routinely work with all digital and OTT players and have deep engagement with them to bring their products, content and services for our wide customer base. Beyond that there is no other activity to report." An Amazon India spokesperson said the company does not comment on speculation about what it may or may not do in future. The latest buzz comes at a time when Indian telecom companies seem to be on the radar of global investors and tech giants. Over the past few weeks, Reliance Industries' digital unit Jio Platforms has raised billions of dollars from marquee technology investors including Facebook, KKR, Silver Lake Partners, Vista Equity Partners and General Atlantic. Market sources said talks are on between Amazon and Airtel for a possible investment and equity buy, but the discussions are at a "very initial stage". An industry watcher who did not wish to be identified said more deals may be in the offing as global tech companies eye a bigger slice of the Indian market, working in tandem with the telecom operators. At 574 million, India boasts of the world's second largest base of internet users. Last week, there were reports that Alphabet Inc's Google is eyeing about 5 per cent stake in Vodafone Idea, although the telecom operator clarified that it constantly evaluates various opportunities and there is no proposal before the board of the firm as yet. On May 26, Airtel's promoter firm Bharti Telecom sold 2.75 per cent stake in the company to institutional investors in the secondary market, raising over Rs 8,433 crore. The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'. Amazon, which has pumped billions of dollars into its Indian e-commerce operations, is looking at strengthening its foothold in the local market. A potential investment will provide it greater firepower to take on Walmart-backed Flipkart as well as recently launched JioMart, following Facebook's USD 5.7 billion investment in Jio Platforms. JioMart -- a new Reliance Retail Ltd commerce marketplace which connects customers with kirana stores and other small and micro-local Indian businesses -- plans to leverage the huge reach that Facebook's WhatsApp has in the country. Apart from investing in e-commerce and food retail businesses, Amazon has also picked up stake in various offline retail chains in India. In 2017, retail major Shoppers Stop had announced raising Rs 179.26 crore from Amazon.com Investment Holdings LLC through an issue of equity shares, which translated to just over 5 per cent shareholding. In September 2018, Amazon said it had co-invested in Witzig Advisory Services, the entity which had acquired Aditya Birla Retail's More chain of stores in India. In August last year, Future Retail had informed stock exchanges that Amazon.Com NV Investment Holdings LLC would acquire 49 per cent stake in Future Coupons Ltd from the promoters, led by Kishore Biyani, for an undisclosed amount. At that time, Future Coupons held 7.3 per cent stake in Future Retail. SR MBI ABM ABM

Amazon in initial talks to buy stake in Airtel: Sources

India has slipped to the seventh spot in the <keyword id="44749" type="ORGANIZATION" weightage="80" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (<keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword>) confidence index, its lowest position in more than a decade, while the US bagged the top spot, a study revealed. India ranked second for three years, in 2005, 2007 and 2012, and also grabbed the third spot in 2010. 

	India attracted $25.5 billion FDI in 2012, down from $31.6 billion in 2011, according to 2014 AT Kearney Foreign Direct Investment Confidence Index. This is the lowest ranking for India since 2001. The US climbed to the top position last year, displacing China, as it made progress towards sustainable and steady economic growth.
 

	“The cooling-off in investor sentiment we foresaw last year appears to have taken shape, with a two-place drop from 5th to 7th – its lowest rank since 2001,” the report said.
 In 2013, the <keyword id="26374" type="ORGANIZATION" weightage="80" keywordseo="UPA-government">UPA government</keyword> raised limits on FDI in telecommunications, asset reconstruction, credit information, aviation and defence production, the report said, adding that foreign investment in oil refining and single-brand retail, currently capped at 49%, will now be granted automatic approval. 

	“In a long-awaited decision reached in late 2012, the Indian government permitted partial foreign ownership of supermarkets and department stores, a major step for the country’s highly underdeveloped retail market,” it said.
 

	“Until late 2013, however, no foreign companies moved to enter, daunted by complex requirements, including one for 30% content from small and medium-sized Indian enterprises,” the report added.
 “In December 2013, though, Tesco, Britain’s biggest retailer, announced that it was seeking permission to take 50% stake worth $110 million in <keyword id="161598" type="COMPANY" weightage="80" keywordseo="Trent-Hypermarket">Trent Hypermarket</keyword>, an arm of <keyword id="8555" type="CITY" weightage="80" keywordseo="Tata">Tata</keyword>. This move came soon after <keyword id="80487" type="COMPANY" weightage="80" keywordseo="walmart">Walmart</keyword> ended its wholesale joint venture with the country’s conglomerate <keyword id="6406583" type="CITY" weightage="80" keywordseo="Bharti">Bharti</keyword> to operate 20 stores in India, citing the local product requirement as the critical stumbling block,” the report said.

India Down To 7th Position On FDI Confidence Index

A massive selloff in the <keyword id="44794" type="PERSON" weightage="20" keywordseo="Equity-market">equity market</keyword> eroded Rs 4,23,139.78 crore from investors' wealth in a single trading session on Monday. Markets witnessed significant selling pressure in the second half of trade and the 30-share <keyword id="723721" type="PERSON" weightage="20" keywordseo="BSE-benchmark-index">BSE benchmark index</keyword> ended 811.68 points or 2.09 per cent lower at 38,034.14. Following weakness in the equity market, the market capitalisation of BSE-listed companies plummeted by Rs 4,23,139.78 crore to Rs 1,54,76,979.16 crore. On Friday, the market capitalisation of BSE-listed companies was at Rs 1,59,00,118.94 crore. "Indian benchmark indices succumbed to profit booking in the second half of the trading day. It was in sync with global cues which turned negative following surge in infections in various countries including in Europe," <keyword id="9976351" type="COMPANY" weightage="20" keywordseo="geojit-financial-services-head">Geojit Financial Services Head</keyword> of Research Vinod Nair said. "Additional restrictions were being considered in Europe following an increase in infections," he added. IndusInd Bank was the top loser in the Sensex pack, tumbling 8.67 per cent, followed by Bharti Airtel, Tata Steel, <keyword id="6653" type="COMPANY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, M&amp;M, Maruti and Axis Bank, while Kotak Bank, Infosys and TCS were the only three gainers from the 30-share frontline companies list. "Markets started the week on feeble note and lost nearly 2.5 per cent, following weak global peers. The first half was lackluster. However, significant selling pressure was witnessed in the latter half. "We feel rising COVID-19 cases combined with correction in the US markets spooked investors," Ajit Mishra, VP - Research, <keyword id="3530822" type="COMPANY" weightage="20" keywordseo="religare-broking-ltd">Religare Broking Ltd</keyword> said. On the BSE, 2,165 companies declined, while 595 advanced and 178 remained unchanged. In the broader market, the BSE smallcap and midcap indices declined up to 3.61 per cent. All BSE sectoral indices closed in the red, with BSE telecom, realty, metal and auto tanking up to 5.77 per cent. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/tech/news/tiktoks-deal-with-oracle-and-walmart-lets-it-cling-on-to-its-most-valuable-asset-its-algorithm/articleshow/78235845.cms" data-type="tilCustomLink">TikTok's deal with Oracle and Walmart lets it cling on to its most valuable asset — its algorithm</a>

Sensex sinks 800 points, Nifty cracks below 11,300 — global selloff eroded ₹4.23 lakh crore from investor wealth

<div class="KonaFilter image-container"><div class="image on-image">AP Photo/Rajesh Kumar Singh</div></div>
NITIN JAIN is the big man in Lasalgaon, a dusty town a day's drive from Mumbai that boasts it has Asia's biggest onion market. With a trim moustache and a smartphone stuck to his ear he struts past a thousand-odd tractors and trucks laden with red <keyword id="6470164" type="PERSON" weightage="60" keywordseo="onions">onions</keyword>. Farmers hurl armfuls at his feet to prove their quality. A gaggle of auctioneers, rival traders and scribes follow him, squabbling and yanking each other's hair. Asked why onion prices have risen so much, Mr Jain relays the question to the market. "Why?" he bellows. His entourage laughs. He says that the price of India's favourite vegetable is a mystery that no calculation can explain.
High food prices perturb some men and women even bigger than Mr Jain. Raghuram Rajan, the boss of India's central bank, is grappling with high inflation caused in large part by food prices: wholesale onion prices soared by 278% in the year to October and the retail price of all vegetables shot up by 46%. The food supply chain is decades out of date and cannot keep up with booming demand. India's rulers are watching the cost of food closely, too, ahead of an election due by May. Electoral folklore says that pricey onions are deadly for incumbent governments.
A year ago it seemed that India had bitten the bullet by permitting foreign firms to own majority stakes in domestic supermarkets. The decision came after a fierce political battle. <keyword id="80487" type="COMPANY" weightage="60" keywordseo="walmart">Walmart</keyword>, Carrefour and Tesco have been waiting for years to invest in India. They say they would revolutionise shopping. Only 2-3% of groceries are bought in formal stores, with most people reliant on local markets. They would also modernise logistics chains, either by investing themselves, or indirectly, by stimulating food producers to spend on factories, warehouses and trucks, and establish direct contracts with farmers, eliminating layers of middlemen.
On the ground little has happened. Foreign firms complain of hellish fine print, including a stipulation to buy from tiny suppliers. Individual Indian states can opt out of the policy--which is unhelpful if you want to build a national supermarket chain. In October Walmart terminated its joint venture with Bharti, an Indian group. India has reduced the beast of Bentonville to a state of bewilderment. Tesco has cut expatriate staff.
The reaction from politicians has been indifference. "We have liberalised...to the extent that we can. People have to accept this and decide whether they want to invest," said Palaniappan Chidambaram, India's finance minister. Despite the apparently obvious benefits of supermarkets and the experience of most other countries, few Indians seem to want change.
<h3>You're not in Bentonville anymore</h3>
Just how bad is India's food supply chain? To find out <keyword id="425741" type="UNKNOWN" weightage="60" keywordseo="The-Economist">The Economist</keyword> followed the journey of an onion from a field in the heart of onion country, in western India, to a shopping bag in Mumbai, a city of 18m onion-munchers. The trip suggests an industry begging for investment and reform.
"The system hasn't changed much--it's been the same since the 1970s," says Punjaram Devkar, an elderly farmer in a white cap. For generations his forefathers have grown onions near a hamlet called Karanjgaon. He owns a crudely irrigated six-hectare (14-acre) plot, larger than the national average farm of just 1.2 hectares. He does not want to buy more land; unreliable electricity and labour mean "it is too hard to manage." There are four onion crops each year--in a good season production is three times higher than in a bad one. To hedge his bets he also grows sugar cane. Costs have soared because of rising rural wages, which have doubled in three years. He says welfare schemes have made workers lazy. "They just play cards all day."
Storage facilities amount to a wooden basket inside a shed--at this time of year onions perish within 15 days, although the variety grown in the spring can last eight months. From here one of Mr Devkar's finest is thrown into a small trailer, along with the produce of nearby farms, and taken to Lasalgaon. The roads are mostly paved but the 32km (19-mile) journey takes a couple of hours in a rickety old tractor.
Lasalgaon neophytes will find their eyes water upon entering its market, a huge car park full of red onions, trucks and skinny farmers. Although the auction is run twice daily by an official body, it doesn't look wholly transparent. Some farmers complain that Mr Jain and another trader dominate the trade (Mr Jain denies this). Prices vary wildly day by day and according to size and quality, which are judged in a split second by eye. The average price today is $0.33 per kilo.
Neither traders nor farmers agree why prices have risen so steeply of late. They blame climate change, the media, too much rain last year, too little rain this year, labour costs, an erratic export regime. "Our biggest problem is illiteracy," says one farmer. "We don't know how to use technology." Most folk agree that India needs better cold storage but worry that it is too pricey or that it ruins the taste of onions.
Farmers must pay a 1% fee to the auction house and a 4% commission to the traders. Sometimes they also have to stump up for fees for packing and loading. That takes place at several depots surrounding the market where farmers must drop off their loads and pour them onto tarpaulins on the ground. The onions may wait there for days but once put into hessian sacks they are loaded onto trucks operated by separate haulage firms and owned by intricate webs of independent consortiums.
At 8pm Prabhakar Vishad, a 20-year veteran of the onion-express highway from Lasalgaon to Mumbai, climbs into a battered Tata truck with "Blow Horn" painted in big letters on the back. Over the years the roads have improved and power steering has made life easier. Still, it is dangerous work, says Mr Vishad, who had a bad crash last year. By 6am next morning he sets his bloodshot eyes on Vashi market on the outskirts of Mumbai. It handles 100-150 truckloads of onions a day--enough to satisfy India's commercial capital.
Onions are sometimes unpacked, sorted and repacked, with wastage rates of up to 20%. By 9am the market is a teeming maze of 300-odd selling agents, who mainly act on behalf of middlemen, and several thousand buyers--who are either retailers or sub-distributors. Everyone stands ankle deep in onions of every size. The bidding process is opaque. The selling agents each drape a towel on their arm. To make a bid you stick your hand under the towel and grip their hand, with secret clenches denoting different prices. Average prices today are about $0.54 per kilo. If the seller likes your tickles you hail a porter. He carries your newly bought sacks on his head to a dispatch depot where another group of couriers takes them into the city.
"I'm crazy, like the guys you see in the movies. I don't negotiate," declares Sanjay Pingle. One of the market's biggest agents, he charges the seller a 6.5% commission. The buyers pay loading charges on top of that and a fee to the market. He says business is tough--bad debts from customers run at a fifth of sales and he has to pay interest rates of 22% on his own debts. The solution to the onion shortage is obvious, he says. "In China they keep things in storage facilities--if India had the same facilities as China has, prices would be lower." He says he has seen photographs of Chinese technology on his mobile phone.
By the afternoon thousands of cars and trucks are picking up small batches of onions to take them into Mumbai. In Chembur, a middle-class neighbourhood, Anburaj Madar runs a big sub-distributor. He handles 200 sacks a day which he sells to retailers and restaurants. He buys daily from Vashi market and has space to store only about 12 hours' worth of stock. Rent is dear and he too reckons cold storage destroys the flavour of onions. He marks up his prices by perhaps 20% but says a chunk of what he buys has to be thrown away--it is either damaged or of inferior quality.
For the onions that do make the cut the next stop is a small shop down the road where they are sold for another mark-up of 10% or so. From here Indubai Kakdi is hand-selecting onions with elaborate care. Buck-toothed and ragged, she sells seven kilos a day from a wooden barrow; she makes a 10% margin. She says climate change has made prices more volatile.
<h3>Peeling back the layers of truth</h3>
The journey of an onion from Mr Devkar's field to the end customer in Mumbai takes only a few days but is enough to make you weep. There are some underlying reasons why prices have risen--higher rural wages have pushed up farmers' costs. But the system is horribly fiddly. Farms are tiny with no economies of scale. The supply chain involves up to five middlemen. The onion is loaded, sorted or repacked at least four times. Wastage rates, either from damage or weight loss as onions dry out, are a third or more. Because India has no modern food-processing industry, low-quality onions that could be turned into paste or sauces are thrown away. Retail prices are about double what farmers receive, although the lack of any standard grading of size or quality makes comparisons hard.
The system is volatile as well as inefficient. Traders who buy onions from farmers may hoard them, but for the supply chain as a whole far too little inventory is stored. As a result small variations in demand and supply are amplified and cause violent swings in price. In the first week of December 2013 prices fell again.
It is easy to see how heavy investment by supermarket chains and big food-producers--whether Indian or foreign--could make a difference. They would cut out layers from the supply chain, build modern storage facilities and probably prod farmers to consolidate their plots.
The shoppers of Chembur agree that Indian onions are the world's tastiest but are fed up with price swings. No one mentions reform as a solution and until there is popular support and political leadership it is hard to see much changing. And what of the last stage of the onion's odyssey, to the stomach? By one stall stands an elderly lady who says she likes the vegetable so much that she doesn't bother to cook it. Instead she chomps on raw onions as if they were apples. At least someone has an eye on efficiency.
Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist

The Route Of An Onion Shows Why India Needs Walmart, Carrefour, And Tesco

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

You Searched For "Bharti Walmart" and got 14 results

Former Walmart and Bharti Enterprises agents drag companies to court

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Retail Wars: Why Wal-Mart’s India Plans Hit A Wall

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Amazon just made a formal offer to buy 60% of its chief competitor in India

Prasid Banerjee

4 Countries That Wal-Mart Has Failed To Impress

Ashley Lutz

Walmart To Open Cash-and-carry Store In Agra

BI India Bureau

This could be the mother of all retail deals in a while

BI India Bureau

Wal-Mart CEO reveals the company's 8 biggest problems

Hayley Peterson

The curious case of Walmart India layoffs and whistleblower allegations reaches US headquarters

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Walmart sheds brick and mortar weight as it plans to go online with Flipkart

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Amazon in initial talks to buy stake in Airtel: Sources

PTI

India Down To 7th Position On FDI Confidence Index

BI India Bureau

Sensex sinks 800 points, Nifty cracks below 11,300 — global selloff eroded ₹4.23 lakh crore from investor wealth

PTI

The Route Of An Onion Shows Why India Needs Walmart, Carrefour, And Tesco

The Economist

Strife At The Top: These 11 C-Suite Execs From India Were ‘Let Go’ In 2013

Sanghamitra Mandal

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