Walmart's Flipkart confirms it is entering the food retail business in India

India’s Flipkart is entering the food retail business as the e-commerce giant looks to expand its reach in the nation, its chief executive said on Tuesday. Flipkart, which sold majority stake in the company to Walmart for $16 billion last year, has registered an entity called "Flipkart Farmermart Pvt Ltd" -- in compliance with local laws -- that will focus on food retail, said Kalyan Krishnamurthy, Flipkart Group CEO, in a statement to TechCrunch. The extended business represents “an important part of our efforts to boost Indian agriculture as well as food processing industry in the country,” he said, adding that the company is already working with hundreds of thousands of small farmers for the business.