In order to take Amazon India head on in the Indian market, Walmart, the world’s biggest retailer is in discussions with online retailer Flipkart to invest $1 billion and pick a minority stake. The deal would give Flipkart additional capital to fight back Amazon, while at the same time, will give Walmart, access to India’s fast growing ecommerce market.
However, according to media reports, both Flipkart and Walmart called these reports speculative in an emailed response. Amazon has recently committed $5 billion to ramp up its Indian operations and gain a better market share.In order to take Amazon India head on in the Indian market, Walmart, the world's biggest retailer is in discussions with online retailer Flipkart to invest $1 billion and pick a minority stake. The deal would give Flipkart additional capital to fight back Amazon, while at the same time, will give Walmart, access to India's fast growing ecommerce market.#
India is considered one of the world’s fastest growing ecommerce markets with the potential for online sales to reach $30 billion by 2020. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
