Walmart May Invest $1B Into Flipkart In Battle For India’s Online Marketplace

india marketplace
The T. Nagar Market Area In Chennai, India

Walmart is thinking about investing up to $1B into India’s Flipkart as the firm heats up its battle against Amazon for e-commerce dominance.

Under the deal’s terms, which are still private, Walmart would take a minority stake in India’s largest online retailer and gain ground against Amazon in India’s online market, which is projected to be a $28B marketplace by 2020, Bloomberg reports. Amazon is also stepping up investments in the country, with CEO Jeff Bezos saying he plans to invest another $3B to gain customers.

“If the deal goes through, the competitive intensity between Flipkart and Amazon will shoot up,” says UBS AG’s head of India research, Gautam Chhaochharia. And it’s not hard to see why they’re fighting—after the US and China, India is retail’s next-biggest prize. [Bloomberg]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

TPG, ACORE Raise Billions For Opportunistic CRE Funds

Newmark Cuts Earnings Outlook Despite Record Third Quarter

Battered Mortgage REIT Suspends Dividend To Preserve Cash

From Pandemic Darling To Cautionary Tale: Pickleball Clubs Face A Reckoning After Betting Big On Retail Space

Weil Gotshal Wind-Down Leaves 830K SF Hole In America's Office Market

Blackstone Mortgage Trust Reports Unexpected Q3 Net Loss

Tyko Capital Sets New Record For Florida's Largest Construction Loan

Office Recovery Moving Faster Than Expected, CoStar Finds

How Microsoft, Coca-Cola And Amazon Are Adapting Their Offices For AI Age

CoStar To Acquire Aerial Imagery Company For $730M

BXP Execs See Better Returns In Building Offices Than Buying Them

JLL's Q3 Revenue Surges Amid Strong Leasing, Capital Markets Activity