Some major International companies from different parts of world are going to invest a huge amount of money in Indian Companies. This will really boost the GDP of the Indian Economy
Walmart is increasing its majority-stake in Flipkart by leading a new $1.2 billion financing round in the Indian e-commerce giant. The fresh equity round led by Walmart, which acquired majority stake in Flipkart for $16 billion two years ago values Flipkart at $24.9 billion post-money, the two companies said.
The American retail group said the fresh capital would help Flipkart, which was valued at $20.8 billion two years ago, further grow its e-commerce marketplace in India as the world’s second largest internet market begins to recover from Covid-19 crisis. A group of other existing investors also participated in the new financing round, a Flipkart spokesperson told TechCrunch but declined to identify them individually.
On Monday Google CEO confirmed Google will invest $10 billion in India over the next five to seven years with the aim of consolidating its position in the digital ecosystem of the world’s fifth-largest economy that is emerging as a battleground for global internet giants.
Alphabet Inc-owned Google’s outlay for India — nearly double the $5.7 billion investment made by rival Facebook in the digital platform of India’s largest conglomerate Reliance Industries in April — will be deployed through a mix of investments and partnerships, chief executive officer Sundar Pichai told ET in an exclusive interview on Monday morning.
On Sunday report coming out from Taiwan apple manufacturer Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said.
The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis.
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