Walmart, the largest retailer in the world buys 77% of Flipkart, India’s top e-commerce retailer with the deal worth $16 billion. The deal is pending regulatory approval in India. Before this deal, Amazon offers $12 billion for 60% share of Flipkart.
Some other investors of Flipkart- Tencent, Microsoft and Tiger Global will work with Walmart. India is one of the fastest growing market in the world and second largest market in Asia after China. Now, Amazon can have tough competition in India with Walmart.