Flipkart, PhonePe continue to experience strong growth in Q1, says Walmart CEO

Flipkart and its payment app PhonePe continue to experience “strong growth” in the first quarter of 2021-22 in the Indian market, US retail giant Walmart said on Tuesday.

Walmart International, – which includes the company’s operations in markets like India, China, Japan, Africa, Canada, the UK, Mexico, Canada and Chile – had posted an 8.3 per cent decline to USD 27.3 billion.

This was “negatively affected by government-mandated restrictions in certain markets,” said Walmart in its post earning statement.

However, in Q1 Walmart International “retained market growth of 5.1 per cent. This was led by strength in Flipkart and Canada” and eCommerce, which contributed 16 per cent of the total net sales of the division.