Walmart president and chief executive officer Doug McMillon has said the performance of its payments company PhonePe has seen a significant upside, and if it chooses to enter the ecommerce business, it won’t compete with sister company Flipkart as both will be focused on serving their own set of customers. He said India has made great progress as a global supplier. Responding to questions on regulatory actions, McMillon said Walmart seeks a level playing field, fairness and transparency here.
Walmart’s payments company PhonePe is performing well in India, according to CEO Doug McMillon. Speaking in a recent interview, McMillon said PhonePe, if it enters ecommerce, will not compete with sister company Flipkart. He added that India was making great strides towards becoming a key global supplier. McMillon also discussed Walmart’s huge ambitions in the country, stating that the $10bn annual export target set to be achieved by 2027 is now “more possible than five years ago”. He also praised the government’s collaborative approach to policymaking.