The deal with the Future Retail is expected to close in the next few weeks, sources close to the development said.
The move assumes significance in view of upcoming festive season that accounts for a significant share of e-commerce annual sales.
Thousands of artisans, small businesses and women entrepreneurs are finding partnership with Flipkart beneficial, said Flipkart CEO.
Flipkart is very keen on collaborating extensively with the MSMEs, ODOP and artisans in Uttar Pradesh.
Walmart wants to use the lessons from PhonePe in other operations around the globe.
Amazon and Flipkart say they’ve complied with the rules and deny any wrongdoing.
Binny Bansal sold about 54 lakh of equity shares worth Rs 531 crore to Walmart.
The appointment comes at a time when Walmart is transforming its customer and associate experiences.
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