Walmart

It has filed a patent for a drone-to-drone communication method using blockchain

In 2017, Walmart has also filed another patent for blockchain-backed drone package delivery

Amazon too has been planning the launch of its drone delivery project soon

Walmart’s international unit saw operating profits fall by nearly 30% in Q2

The company has however said it continues to be excited about India's prospects

Meanwhile Amazon is looking to get a hold in India's offline retail market

Walmart acquired Flipkart in a deal worth $16 Bn in 2018

Amazon came on second spot with $9.8 Bn GMV

Paytm Mall took the sixth spot in Indian retailers

Walmart has backed fresh produce supply chain startup Ninjacart with an investment of $50 Mn

The first tranche of $10 Mn would reportedly be given later this month

Ninjacart had closed a $100 Mn Series C Round in June

Walmart had sent a firm response to the USTR in January 2019

India’s new FDI in ecommerce policy went into effect in February this year

Ecommerce marketplaces with FDI were barred from controlling inventory and pricing

Goyal met Judith McKenna, CEO and president of Walmart International

The meeting comes at a time when government is showing strict conditions to Flipkart and Amazon

Goyal in a meeting with Amazon and Flipkart had warned companies of following new FDI rules

Acquihired startups include FloCare and BigTrade

Walmart Labs had acquhired three other Indian startups in the past

Walmart Labs is the technology arm of the retail giant Walmart

Statutory auditors are free to check for compliance, Flipkart CEO Kalyan Krishnamurthy said

The government's FDI rules for ecommerce had placed restrictions on controlling inventory

Flipkart had appointed intermediaries between its wholesale unit and preferred sellers earlier this year

India’s ecommerce industry has been in the middle of a seismic shift since February

Post-FDI rules, the govt's data protection policies have been termed as regressive by US trade groups

India will be isolated at the coming G20 meet which will focus on global ecommerce

The current sale has brought down his stake in Flipkart to 3.52%

Earlier, Binny had a 4.2% stake in Flipkart

Binny resigned from Flipkart in Nov 2018 after allegations of personal misconduct

Walmart has said that it will be ramping up its investment in Flipkart

The US retail giant has taken a hit to its gross profit rate because of Flipkart’s inclusion in Q1 FY19

Walmart recently settled with the SEC to pay $282 Mn over charges of graft in their overseas business

Walmart agreed to pay more than $144 Mn to settle the SEC's charges

Walmart also agrees to pay $138 Mn to resolve parallel criminal charges by the Department of Justice

"We've enhanced our policies, procedures and systems and invested tremendous resources globally into ethics and compliance," said Walmart CEO Doug McMillon