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News Headlines
P.U. Chithra joins the Southern Railways        Commander Abhilash Tomy rescued        Abhilash Tomy expected to be rescued soon        Shilpa Shetty faces racism at Sydney airport        Pakistan’s friendship offer to India should not be seen as weakness, says PM Imran Khan        India thrash Pakistan by 9 wickets        Naomi Osaka pulls out of Wuhan Open        Hasan, Asghar, Rashid fined 15 per cent of their match fees        Ready to be sacked if ATK do not fare well: Coppell        Sensex ends in red after 1,000-pt flash crash        OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        
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Business News
NITI welcomes $16 bn Walmart-Flipkart deal
 
New Delhi, May 10 (PTI) The USD 16 billion (Rs 1.05 lakh crore) Walmart-Flipkart deal will have a positive impact on India's foreign investment inflows, NITI Aayog Vice Chairman Rajiv Kumar said today.

He also said that the deal is as per India's foreign direct investment (FDI) norms.

Walmart Inc had yesterday announced the acquisition of 77 per cent stake in Flipkart in the largest e-commerce deal which will give the US retailer access to the Indian online market that is estimated to grow to USD 200 billion within a decade.

"It will have a very positive impact. The deal is as per the country's FDI norm," Kumar said, adding that Walmart is global leader and will help small businesses in India to procure goods at cheaper rate.

The deal, he said, will also have positive impact on FDI investments into the country.

These comments assume significance as soon after the deal was announced, RSS-affiliate Swadeshi Jagran Manch alleged that Walmart was "circumventing" rules for a "back-door entry" into India and sought Prime Minister's intervention to safeguard "national interest".

"This will further eliminate small and medium businesses, small shops, and opportunity to create more jobs. Most of these small entrepreneurs are already battling for their existence; entry of Walmart will further create problems for them," the co-convenor of the manch, Ashwani Mahajan said in a letter to the prime minister.

Earlier in today, Walmart chief executive Doug McMillon played down not being able to meet either Prime Minister Narendra Modi or any senior minister after announcing the world's biggest e-commerce deal, saying he has had meetings with officials in the past and would have them in future as well.

The Prime Minister happens to be the Chairman of the government think tank, NITI Aayog.

Kumar also released a booklet compiling the work done by top 30 Innovations under the Atal Innovation Mission of NITI Aayog

He also said that by March 2019, the Aayog will be putting up 5,000 Atal Tinkering Labs across the country. ATLs under the Atal Innovation Mission of NITI Aayog are based on the philosophy that incentives and prize awards are a great beginning to create an exponential wave of innovation and entrepreneurship amongst school children.


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INTERNATIONAL NEWS
Shilpa Shetty faces racism at Sydney airport
 (Sydney, Sep 23, 2018):Actor-entrepreneur Shilpa Shetty Kundra on Sunday alleged that she fac
Pakistan’s friendship offer to India should not be seen as weakness, says PM Imran Khan
Thousands rally across Russia against raising pension age
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
NATIONAL NEWS
Commander Abhilash Tomy rescued
 Perth: Indian Naval Commander Abhilash Tomy has been rescued safely three days after being badly in
Abhilash Tomy expected to be rescued soon
Sisodia, AAP MLAs discharged in case related to 2014 protest
We have no role in selection of Reliance Defence for Rafale deal: Govt
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