Flipkart, an e-commerce firm subsidiary of American retail giant Walmart, will move its headquarters back to India from Singapore ahead of its launch on Indian stock exchanges in 2026. The firm moved its headquarters to Singapore initially in 2011 to attract more foreign investment, benefit from tax incentives and navigate regulatory challenges more efficiently.
While the approval for the transfer is still pending, the move reflects a trend as other Indian businesses like Zepto, Groww and PhonePe relocate their headquarters back to India in order to achieve greater valuations ahead of listing on domestic markets.
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A spokesperson said: “As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation’s growing digital economy and entrepreneurship. We are excited by the opportunities ahead and reaffirm our long-term confidence in India’s future.”
“This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India’s strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey,” the spokesperson added.
In 2018, Walmart acquired a 77% stake in Flipkart for $16b. This also included the purchase of PhonePe, a digital payments company that was part of Flipkart at the time. However, in 2022, PhonePe separated from Flipkart, moving its headquarters from Singapore back to India. At the time, it was one of the largest e-commerce deals in history, solidifying Walmart’s entry into India’s digital market.
Flipkart was founded in Bengaluru in 2007 and was initially focused on selling books online. The firm then expanded its offerings to include electronics, fashion, and groceries.
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