1 min read.Updated: 19 Aug 2021, 06:33 PM ISTLivemint
Kalyan Krishnamurthy informed Sitharaman about Flipkart's engagement with sellers, especially MSMEs. He also highlighted the firm's focus on helping artisans and weavers leverage digital platforms to reach more buyers, the report said
Flipkart chief executive Kalyan Krishnamurthy today met Finance Minister Nirmala Sitharaman but the e-commerce major did not shared the details of the meeting, news agency PTI reported.
The Flipkart CEO informed the Sitharaman about the company's engagement with sellers, especially MSMEs. He also highlighted Flipkart's focus on helping artisans and weavers leverage digital platforms to reach more buyers, the agency reported.
More than 3 lakh registered sellers from across the country are on Flipkart's marketplace, and 60% are from tier II cities and beyond. Flipkart also works with more than 1.6 million kiranas in India through its wholesale business and its last-mile delivery program
With more than 350 million registered users from across the country, the Walmart-owned e-commerce platform has been investing in key categories, including fashion, travel, and grocery. Venturing into the social commerce space, Flipkart recently announced the launch of Shopsy that will encourage local entrepreneurship.
Last month, Flipkart had raised about ₹26,806 crore in funding for a valuation of $37.6 billion, with its main owner Walmart joining SoftBank, Singapore's GIC Pte, and several sovereign wealth and pension funds.
Flipkart is reportedly working towards an initial public offering (IPO), even though the company has not revealed a specific timeline for the same.
Earlier this week, Walmart had said its operations in markets such as India and Mexico had pushed its international business growth by 13% in the second quarter ended July 31.