The fight to dominate India’s $700-bn retail market gathers intensity as Reliance acquires its nearest rival, leaving Amazon far behind. Even as there is speculation of Walmart buying a minority stake in Reliance Retail, the market is awaiting Bezos’ next move with bated breath.
Jeff Bezos-led Amazon may buy 49 per cent stake in Future Retail. E-commerce giant Amazon is likely to acquire a significant stake in Future Retail as the debt-ridden Indian retailer battles cash crunch. The US online retail giant is in discussion with Kishore Biyani-led Future Group over the potential stock purchase. Amazon could raise its holdings in the retailer to as much as 49 per cent. The discussions are at a preliminary stage and the companies can decide against any [...]
Indian Commerce Minister Piyush Goyal’s rebuke of Amazon chief Jeff Bezos, during his recent visit to India, needs to be seen in the context of the e-commerce giant’s alleged predatory and anti-competitive practices that threaten the livelihoods of millions in India’s largely unorganised retail sector. Highlights: Indian Commerce Minister Piyush Goyal’s criticism of Amazon chief Jeff Bezos was an unprecedented move. The rebuff from the government and the traders’ protests come at a time when India’s anti-trust regulator, the Competition [...]