USISPF says Walmart-Flipkart deal will support 'Make in India'
The approval comes less than three months after the announcement of the mega deal.
A leading business group in the US has welcomed the clearance to American retail giant Walmart's proposed acquisition of Flipkart, saying it will support the Indian government's ambitious 'Make in India' initiative.
The US-India Strategic Partnership Forum (USISPF), a new organization set up to enhance business relations between India and the US, lauded the approval.
USISPF President and CEO Mukesh Aghi congratulated Walmart and Flipkart.
"Congratulations to @Walmart @Flipkart for receiving the approval of CCI @narendramodi it shows confidence in continuing economic reforms in India. This deal will benefit farmers, consumers, create jobs and bring new supply chain technologies," Aghi tweeted.
Mergers and acquisitions beyond a certain threshold require the approval of CCI.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)