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Walmart has announced that its Route Optimization tool, which uses artificial intelligence (AI) to plot more efficient routes for delivery trucks, will be made available to other businesses.
The e-commerce giant expands its financial services by partnering with Axis Bank for personal loan distribution.
Prime Minister Narendra Modi said he held insightful discussions with Walmart CEO Doug McMillon, and he is happy to see India emerge as an attractive destination for investment.
Sameer Nigam, PhonePe Founder & CEO "PhonePe is launching a new consumer app today thanks to ONDC, namely “Pincode”.
Several leading global investors have contributed to PhonePe's latest funding round, including an additional $200 million from Walmart. The total amount raised in this round is $650 million.
Comparing FY21 to FY22, Flipkart Internet's overall expenses increased by 36% to Rs 15,020 crore.
Technology investments made by Walmart allowed the company to remain relevant and profitable despite increased competition from e-retailers.
The statement comes at a time when the Walmart-owned e-commerce giant Flipkart is facing multiple challenges in the country.
The proceeds from the fundraising would be utilized by Walmart owned Flipkart to invest in new categories and existing domains like fashion, grocery and delivery.
The government's severe new e-commerce guidelines, which were unveiled on June 21 and meant to increase consumer protection, have alarmed the country's online businesses.
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