India aborts Walmart’s plan to enter food retail through Flipkart

June 2, 2020: The Department for Promotion of Industry and Internal Trade (DPIIT) under the government of India refused to approve Flipkart's plan to enter the Indian food retail business due to regulatory concerns.

Walmart eyed the $200 billion food retail sector by launching Flipkart Farmermart in 2019 by which the company also planned to boost Indian agriculture as well as the food processing industry.

“Commenting on the development, a company spokesperson said that Flipkart intends to re-apply for the permit,” reports Business Standard.