Amazon rumoured to be in competition with Walmart for India's Flipkart

It has been reported that Indian e-commerce site Flipkart has attracted the interest of both Amazon and Walmart as they vie for dominance in the region's expanding online retail market.

A February report from Reuters indicated that Walmart was looking to buy a 40% stake in Flipkart, which holds approximately 40% of the Indian e-commerce market, ahead of Amazon.  The rumoured terms of the deal would place a value on the of around $21 billion. 

Amazon has already confirmed plans to invest $5 billion into the Indian market, with grocery deliveries forming part of its expansion plans.

Bankers Morgan Stanley have predicted the market value of the Indian e-commerce market to be in the region of $200 billion by 2028.

Source : Insight DIY Team

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