On Wednesday, one of the biggest acquisitions in the e-commerce space took place as US Retail giant Walmart bought 77 percent stake in the Indian home-grown e-comm company Flipkart. The deal values the 11-year-old Flipkart at approximately $21 billion (Rs 1.47 lakh crore). Sachin Bansal-one of the co-founders sold his entire stake to Walmart and got richer by $1 billion. The acquisition, amounting to $16 billion, is the costliest ever in the e-commerce sector.
Nepali Foreign Minister Pradeep Gyawali on Wednesday, informed the parliament regarding the official visit of Indian Prime Minister Narendra Modi starting from May 11.
International Monetary Fund (IMF) has reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4 percent, that will rise to 7.8 percent in 2019.
Some big developments that are expected to happen today are:
President Ram Nath Kovind to visit the Siachen base camp in Jammu & Kashmir today and interact with the soldiers posted there. He will be the first president to visit the camp since the visit of former President APJ Abdul Kalam in 2004.
3 party leaders, including Union Ministers Nirmala Sitharaman, Ananth Kumar, Piyush Goyal & Dharmendra Pradhan, to hold mega road shows in different parts of Karnataka today.