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Bloomberg
Walmart Inc’s e-commerce unit, Flipkart Online Services Pvt, signed a pact with tycoon Gautam Adani’s conglomerate to build one of the largest retail warehouses in India as the US giant gears up to battle Amazon.com Inc and homegrown rivals in the South Asian nation.
The partnership marks the entry of Adani, India’s fastest-rising billionaire, into the three-way fight for domination of India’s online shopping space. Up against the Walmart-Adani alliance is not just Amazon, but also Reliance Industries Ltd, the conglomerate owned by Mukesh Ambani, India and Asia’s richest man.
They all want a slice of a market estimated to generate $200 billion in sales by 2026.