Walmart Will Generate 1 Crore New Jobs In India; RSS-linked Group Says ‘Walmart Go Back’!
Walmart is looking for long-term partnerships with local shopkeepers, and farmers, so that they can procure their goods directly, and sell to their customers.
Walmart CEO Doug McMillon has declared that they will create 1 crore new jobs in India, as 40-50 new stores would be opened across various cities, in the next 2-3 years.
This statement comes days after Walmart officially acquired Flipkart by buying 77% stake for $16 billion, at a valuation of mind-blowing $20 billion.
We have declared this as a big moment for Indian eCommerce, a moment which changes everything.
Meanwhile, RSS-linked groups have come out in the streets, chanting ‘Walmart Go Back’ slogans, as they claim that presence of Walmart will destroy Indian economy.
Will Govt. intervene?
Walmart: We Will Create 1 Crore New Jobs!
In a statement issued after the deal was finalized, Walmart CEO Doug McMillon has said that the new Walmart-Flipkart entity will create 1 crore new jobs in India, as various avenues of growth and progress open up in the online and offline retail sector.
CEO of Walmart, which is based in Bentonville, Arkansas said,
“As Walmart scales in India, the company will continue to partner to create sustained economic growth across agriculture, food and retail. Future investments will support national initiatives and will bring sustainable benefits to the country,”
As per signals coming in, Walmart is looking for long-term partnerships with local shopkeepers, and farmers, so that they can procure their goods directly, and sell to their customers.
Walmart has assured that PM Modi’s ‘Make in India’ initiative will receive a major boost with them. Supply-chain, logistics, retail, IT and sales are some of the sectors where massive job creation is expected by Walmart.
Walmart has also said that in the next 2-3 years, 50 new stores would be launched, pan-India.
Walmart India President and CEO Krish Iyer said,
“We currently have 21 stores and plan to open 50 stores in 4 to 5 years. Plans are on track,”
RSS-Linked Groups Oppose Walmart
After offline traders body CAIT issued anti-Walmart statements, it is now the turn of RSS-linked group Swadeshi Jagran Manch to create ruckus and chaos.
They have launched massive road protests against Walmart, claiming that Walmart is using $16 billion for “circumventing” rules for a “back-door entry” into India.
In a letter to PM Modi, the group has sought immediate intervention by Govt. of India, for “national interest”.
Swadeshi Jagran Manch in their letter to the PM said,
“This (Walmart-Flipkart deal) will further eliminate the 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 group also claims that Walmart will destroy PM Modi’s Make in India initiative, as Walmart will destroy local manufacturers, shopkeepers.
In a rare political situation, The Communist Party of India (Marxist) is also supporting RSS-backed Swadeshi Jagran Manch, as they claim that Walmart’s entry into India will make us slave, once again.
There has been no reaction from the Govt. on this issue.
Do you think Swadeshi Jagran Manch is right in condemning Walmart’s entry in India via Flipkart? Will protectionism work in 2018? Do let us know by commenting right here!