India to top China as largest international market says Walmart CFO- Watch Video

This year, India is expected to surpass China and become Walmart's top overseas market, according to a senior corporate executive. The retail giant with its headquarters in Bentonville owns a majority stake in both the payment app PhonePe and the online marketplace Flipkart.

Walmart CFO John David Rainey addressed the company's annual conference call with institutional investors, "I believe India is going to be the largest market in the world this year, surpassing China. It's a really promising opportunity in the future."

Flipkart and PhonePe are industry leaders, according to Rainey, who is also the executive vice president of Walmart Inc. He said that both businesses have enormous potential moving forward.