‘Walmart need not lose sleep over policy U-turn’
Doug McMillon, CEO Walmart International met commerce and industry Anand Sharma on the sidelines of the annual World Economic Forum meeting being held in Davos.
“India’s policy on FDI in multi-brand retail has finality and they (Walmart) need not be unduly concerned about any policy reversal,” Sharma told McMillon, according to a statement issued by the commerce and industry ministry.
The minister also asked McMillon to send request for clarification to the ministry and assured that all necessary clarity will be provided. Walmart is already present in India in the cash and carry, or wholesale, segment through a 50:50 joint venture with Bharti Enterprises.
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