financetom
Retail
financetom
/
Retail
/
Walmart backs India’s case for US Duty benefits, says report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Walmart backs India’s case for US Duty benefits, says report
Jul 26, 2018 12:28 AM

US retail giant Walmart is supporting India on a trade measure against the country by the Trump administration, The Economic Times reported.

The retailer has urged continuation of low or zero duty benefits for $5.6 billion-worth Indian exports to the US under the Generalised System of Preferences (GSP) scheme, the report said.

The company said revoking India’s GSP eligibility was “too blunt a tool” and would only end up benefiting others, according to a submission by Walmart to the US government accessed by the paper.

Bentonville, Arkansas-headquartered Walmart in May announced it was acquiring roughly 77 percent of homegrown Flipkart, a deal which now awaits the approval of India’s anti-trust regulator.

Walmart, which currently runs 21 cash-and-carry stores in India, has faced protests from nearly 10 lakh traders against the Flipkart deal.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Positive on PVR, Inox; Zee can see 8% revenue growth QoQ: Edelweiss Securities
Positive on PVR, Inox; Zee can see 8% revenue growth QoQ: Edelweiss Securities
Jan 20, 2022
Abneesh Roy, Executive Director- Institutional Equities, Edelweiss Securities is positive on PVR and Inox. According to him, Zee Entertainment can see 8 percent growth in revenue quarter on quarter (QoQ).
China says looking into unfair competition on e-commerce platforms
China says looking into unfair competition on e-commerce platforms
Oct 24, 2020
China's market regulator and other government departments have launched an exercise focused on e-commerce, with plans to crack down on areas such as unfair competition and the illegal trading of counterfeits or wildlife, state news agency Xinhua said.
Multiplexes' body urges Delhi government to open cinemas with 50% occupancy
Multiplexes' body urges Delhi government to open cinemas with 50% occupancy
Dec 30, 2021
Cinema chains feel the heat again as Delhi moves to level 1 of the graded response action plan as COVID-19 cases surge once again. Under the plan, cinemas have to shut shop once again. In an interview with CNBC-TV18, Kamal Gianchandani, President of the Multiplex Association of India shares his perspective.
Deal with Uday Shankar, James Murdoch a big push forward for Viacom18: Prabhudas Lilladher
Deal with Uday Shankar, James Murdoch a big push forward for Viacom18: Prabhudas Lilladher
Jan 27, 2022
Reliance Industries Limited (RIL) is doubling down on the media business with a strong push to both broadcasting as well as digital media by inducting marquee investors and launching big-ticket investments. For this purpose, RIL has roped in Uday Shankar, former Star & Disney India chairman, and James Murdoch, as strategic partners. To decode what this would mean for Viacom18, CNBC-TV18 spoke to Amnish Aggarwal, Head-Research, Prabhudas Lilladher.
Copyright 2023-2026 - www.financetom.com All Rights Reserved