Myntra and Flipkart pledge to explore growth opportunities in Andhra Pradesh
E-commerce giant Flipkart and its fashion arm Myntra have expressed interest in pursuing business and growth opportunities in Andhra Pradesh following a request from state officials.
Tirupati MP M Gurumoorthy had sent a request to the CEOs of Flipkart and Myntra, Kalyan Krishnamurthy and Amar Nagaram, to meet to explore growth possibilities in Andhra Pradesh, TNN reported. On September 30, Krishnamurthy and Nagaram visited the Venkateswara statue at the Tirumala temple to offer prayers and met with Gurumoorthy along with APIIC director Rajanikanth Reddy.
Gurumoorthy briefed Krishnamurthy and Nagaram on the state’s industrial policy for 2020 to 2023 which was unveiled under the leadership of state chief minister YS Jaganmohan Reddy. The state’s policy has a strong focus on ease of doing business with industrial mega projects planned.
Because Andhra Pradesh has the second highest proportion of citizens at working age in the country at 70.9%, the state is ideal for future-focused investments, according to Gurumoorthy. Both Krishnamurthy and Nagaram responded positively to the state government’s pitch, said Gurumoorthy, TNN reported. The state government is thus hopeful of significant business opportunities with the US-owned business in the near future.
Flipkart and Myntra have come under fire from traders’ organisations including the Confederation for All India Traders for allegedly harming local business interests. Although numerous traders have joined CAIT’s protests against the Walmart-owned businesses, the Andhra Pradesh is convinced the businesses will have a positive effect on the state economy.
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