Flipkart is relocating its headquarters from Singapore to India
It's somewhat of a homecoming for Flipkart, which is moving its headquarters to India after years of operating out of Singapore. The company says that 'this move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India'.'As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation's growing digital economy and entrepreneurship. We are excited by the opportunities ahead and reaffirm our long-term confidence in India's future,' says Flipkart spokesperson.advertisement'This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India's strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey,' the company spokesperson added.
The move is still pending regulatory clearance. But it reflects a rising trend among Indian startups. In recent months, companies such as Zepto, Groww, and PhonePe have all moved their headquarters back to India, aiming to tap into more attractive valuations and gear up for domestic stock market listings.Flipkart was founded in Bengaluru in 2007 by Sachin Bansal and Binny Bansal. Initially focused on selling books online, it rapidly expanded into electronics, fashion, and groceries. In 2011, Flipkart shifted its headquarters to Singapore to attract foreign investment, benefit from tax efficiencies, and navigate India's complex regulatory environment. This strategic move helped fuel its growth and appeal to global investors. In 2018, American retail giant Walmart acquired a 77 per cent stake in Flipkart for $16 billion, marking one of the largest e-commerce deals globally and solidifying Walmart's entry into India's rapidly growing digital marketplace.Tune In
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