Flipkart & PhonePe continue to experience strong growth

Flipkart and its payment application PhonePe keep on encountering “solid growth” in the principal quarter of 2021-22 in the Indian market, US retail goliath Walmart said on Tuesday. Walmart International, which remembers the organization’s activities for business sectors like India, China, Japan, Africa, Canada, the UK, Mexico, Canada and Chile – had posted a 8.3 percent decay to USD 27.3 billion.

This was “adversely influenced by government-commanded limitations in specific business sectors,” said Walmart in its post earning statement.

Be that as it may, in Q1 Walmart International “held market development of 5.1 percent. This was driven by strength in Flipkart and Canada” and eCommerce, which contributed 16% of the absolute net deals of the division.

“In India, for the first quarter, Flipkart and PhonePe keep on encountering solid growth,” said Walmart President and CEO Doug McMillan in first-quarter earnings result call.