Indian government rejects flipkart-walmart project
Flipkart recently applied for the proposal to enter in the food retail business but with Walmart which has taken firms of many e-commerces.
Flipkart decided to launches something new from their side as he announced in the Month of October to invest $285 in their new venture.
The Department for Promotion of Industry and Internal Trade (DPIIT); that deals with the commercial and industrial ventures announces that Flipkart not meet their regulatory policies to carry out their food retail business.
Flipkart wants to make a Farmer-mart that is making a direct profit to the Farmers that’s the good idea but as Walmart invests in it , this comes to FDI(Foreign Direct Investment) by this the Flipkart was rejected as our PM Narendra Modi requested to go through the made in India products by the AATMA NIRBHAR so the DPIIT rejected the Flipkart request on food retail business.
Flipkart farmer-mart wants to enter into the food retailing business through online mobile platforms .Few years ago government announces for the 100%FDI on food retailing business to promote made-in -India programs to create Flipkart comes it as a physical stores but at this time the DPIIT rejects the Flipkart proposal of food retailing business because it does not want to involve the foreign company into the India to invest .
As some of the e-commerces were issued on the grocery products some times ago as Amazon, Zomato, grofer and etc.