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Why Walmart’s Flipkart Deal Will Spur Entrepreneurship in India

Walmart’s agreement on June 9 to purchase 77% of Flipkart for $16 billion mints two engineer billionaires in India. Binny Bansal and Sachin Bansal, who co-founded Flipkart and who are not related, each reportedly own about 5% of the Indian online retailer. They will have a net worth about $1 billion when the transaction with Walmart is completed later this year. It will mark a major business success for professionals in India, outside the information technology businesses.

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