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.

Xiaomi launches Amazon exclusive VoLTE ready Redmi 4A, priced at Rs 5,999

China’s smartphone manufacturer Xiaomi on Monday launched Redmi 4A -- a latest entrant in Xiaomi’s entry-level Redmi series. The Xiaomi Redmi 4A will be available exclusively on Amazon and will be sold at a jaw-dropping price of Rs 5,999.

The latest Xiaomi Redmi 4A, being an entry-level budget smartphone, offers spectacular features. The device flaunts 5-inch HD display, which is enclosed in a polycarbonate body. The dual-sim smartphone is powered by Qualcomm Snapdragon 425, 64-bit quad-core processor and sports 16 GB internal storage – expandable up to 128 GB via microSD card – coupled with 2 GB of RAM.

The Redmi 4A boots Android 6.0 out of the box covered under Xiaomi’s MIUI 8 theme. On the camera front, the smartphone features 13-megapixel (MP) rear camera and 5 MP front-facing selfie camera. The device is powered by 3,120 mAh battery that keeps the show running.

Xiaomi has been quite successful in India and to cement its position even further, the company is commencing operations at its second manufacturing plant in India.

The company claims to employ 5,000 employees in the manufacturing plant that produces  one smartphone every second. Manu Jain, managing director, Xiaomi India claimed that more than 95 per cent of Xiaomi smartphones sold in India come from its Sri City unit manufacturing plant. (READ MORE)