Is Flipkart Really an Indian Company?

Flipkart was originally founded in India in 2007 by Sachin Bansal and Binny Bansal. However, in 2018 Walmart acquired a majority stake in Flipkart, making it controlled by a US-based multinational corporation. While Flipkart operates extensively in India and employs thousands of people locally, ownership control ultimately lies with Walmart. This means Flipkart is generally classified as a foreign-controlled company operating in India.