Walmart-Flipkart deal will create jobs, support 'Make in India': USISPF

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.

Competition Commission of India (CCI) yesterday said in New Delhi that it has cleared Walmart's proposed acquisition of Flipkart, a deal estimated to be worth $16 billion.

The approval comes less than three months after the announcement of the mega deal.

ALSO READ: Walmart plans to set up 15 new stores in UP, to create 30,000 jobs
The US-India Strategic Partnership Forum (USISPF), a new organisation set up to enhance business relations between India and the US, lauded the approval.

"The deal is good for India as a whole. It will strengthen the agriculture supply chain and create new skilled jobs, supporting the 'Make in India' initiative," the USISPF said in a tweet.

India to play Champions Trophy, confirms BCCI

The Board of Control for Cricket in India (BCCI) on Sunday ended the speculations surrounding India's participation in the upcoming Champions Trophy, and confirmed that the Men in Blue would participate in the 50-over pinnacle event, beginning January 1st in England and Wales.

The decision comes unanimously after the BCCI's Special General Meeting held in the national capital today (May 7).

The board unanimously also authorised acting BCCI Secretary Amitabh Choudhary to continue negotiations with the International Cricket Council (ICC) in the best interest of the country's cricket board while keeping its legal options open.

The All-India Senior Selection Meeting will now be held on Monday, May 8, in New Delhi to pick the team for the Champions Trophy.

Earlier, a day ahead of the SGM, acting BCCI president C. K. Khanna had said that the team would not withdraw from the tournament.

"The meeting may be called on Monday. The BCCI secretary is going to take the call after the SGM. My view is that India must take part in the Champions Trophy," Khanna told ANI.

In the wake of the ICC proposing a new financial model which reduces the BCCI's revenues from $570 million to $293 million, the latter had deliberately missed the April 25 deadline for submission of the squad and that there were speculations that they might pull out of the tournament.

On Friday, the Supreme Court-appointed Committee of Administrators (CoA), in a strongly worded statement, ordered the BCCI to refrain from taking any decision that might harm the interests of Indian cricket.
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