Walmart shrugs off exit rumours from Flipkart

US retail major Walmart, which invested USD 16 billion in Flipkart, Wednesday said it is committed to the Indian market and is optimistic despite recent changes in the FDI policy for e-commerce firms in the country. The Bentonville-based retailing major's statement came after a recent report by global consultancy firm Morgan Stanley, which had hinted that Walmart may quit Flipkart as the new foreign direct investment (FDI) policy came into effect, which would lower its profitability in the long run.