![India rejects Walmart-owned Flipkart’s proposed foray into food retail business](https://i.comentr.com/869gyAcOa6khN0AUPpXRqteZTwM_tam.jpg)
India rejects Walmart-owned Flipkart’s proposed foray into food retail business
https://techcrunch.com/2020/05/31/india-rejects-walmart-owned-flipkarts-proposed-foray-into-food-retail-business/
The Indian government has rejected Flipkart’s proposal to enter the food retail business in a setback for Walmart, which owns majority of the Indian e-commerce firm and which recently counted its business in Asia’s third-largest economy as one of the worst impacted by the global coronavirus pandemic.
The Department for Promotion of Industry and Internal Trade (DPIIT), a wing of the nation’s Ministry of Commerce and Industry, told Flipkart, which competes with Amazon India, that its proposed plan to enter the food retail business violates regulatory guidelines.