Master Stroke: 'Walmart-Flipkart deal will destroy Indian SME sector'

Putting months of speculation to an end, American retail major Walmart earlier in the day confirmed that it would be acquiring a significant stake in Indian e-commerce major, Flipkart Group.
While reports of the deal have been surfacing time and again in the recent past, the American multinational announced that it would acquire 77 per cent stake in Flipkart against an initial payment of USD 16 billion (over 1 lakh crore).

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