Walmart CEO pens a letter to PM on data privacy, regulatory stability

Walmart CEO Doug McMillon has written to Prime Minister Narendra Modi on issues related to data privacy and regulatory stability for the e-commerce sector and has urged him to reduce the number of licences and permits for the opening of new stores.

McMillon in a letter has assured the prime minister of Walmart’s commitment to increasing global sourcing from India, empower small and medium enterprises and more job creation. McMillon had met Modi during the prime minister’s recent US visit.

Global retail giant Walmart, which has invested $16 billion in Flipkart, is facing challenges after the foreign direct investment rules for e-commerce marketplaces were changed by the government through a revised policy on FDI in online retail.