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How Walmart Will Be Benefited From GST in India

26Jun By Press Trust of IndiaNo Comments

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How Walmart Will Be Benefited From GST in India

Walmart will be benefited by the Goods and Services Tax (GST) which will be a win-win situation for all, the American retail giants top official in India said here today as the landmark tax reform measure is all set to be rolled out on July 1. "For instance, in the medium to long term when it becomes one national unified market, you dont need warehouse in every single state. Thats a big benefit in terms of economies of scale, how one can drive economies of scale," Krish Iyer, president and CEO of Walmart India, told PTI in an interview. "Eventually, if we are able to run the business at lower cost, we will pass it onto the consumers, and the prices of the central commodities can come down, so its a win-win for everyone, for the consumer, for the state, as well as for the business," said ...

Walmart Completes Jet.com Acquisition

Wal-Mart Stores on Monday said it has completed the acquisition of Internet retailer Jet.com after agreeing to pay about $3 billion for the e-commerce startup last month. Wal-Mart Chief Executive Doug McMillon announced the closing of the deal, which was pending regulatory approval, in a blog post on the retailer's website. The deal, which was the largest for an online startup, will give Walmart access to Jet.com's innovative pricing software and will help the Bentonville, Arkansas-based retailer to better compete with online rival Amazon.com. "A lot of folks ask me 'Why Jet.com?," McMillon said in a blog post. The answer he said was in the savings both Walmart and Jet can together offer shoppers. Jet, with its ability to lower prices as customers add more items to their shoppi...

‘Walmart Pay’ Is the Newest Mobile Payment Option

Reuters- Wal-Mart Stores Inc said it would launch 'Walmart Pay,' to become the first U.S. retailer to offer its own payment feature to expand consumer payment options and increase the speed of checkouts. Walmart Pay will be introduced in select U.S. stores on Thursday and in additional stores after the holiday season, Wal-Mart executives said on a video call with reporters on Wednesday. The free service, integrated into the retailer's app, will be available nationwide by the first half of 2016, the executives said. Walmart Pay will be available on devices using Apple's iOS or Alphabet Inc's Android operating system and allows payments with any major credit, debit, pre-paid or Walmart gift cards, the company said. It will also allow for the integration of other payment options s...