Despite similar services from legacy giants on offer, the go-to shopping apps for Americans, Amazon and CrediTienda, are both examples of Mexican success and its vitality to the US Economy.
With a multi-billion deal with Future Retail, Reliance has challenged Amazon’s dominance in e-retail sector. In a discount war, Mukesh Ambani’s JioMart can now beat Jeff Bezos’ Amazon and establish itself as the market leader
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Over the last few weeks, Mukesh Ambani-led Reliance Retail has managed to attract big-ticket investments from global IT giants like Facebook and Google. It is speculated to be holding talks with Amazon and Walmart. The global IT giants’ big-ticket investments are made as Reliance is all set to capitalize on a huge un-penetrated retail market in India. Starting from Qualcomm and Intel to Google and Facebook, the Jio platform has maintained to be valued above Rs 4.5 lakh crore.
With the Reliance Industries flagship JIO Mart already having an $8 Billion backing from Facebook and Vista Equity while a further $4 Billion in talks with Google topped by a $1 Billion investment in India by Amazon makes this investment crucial for the survival of Flipkart.
Amazon is in early talks to buy a roughly 5% stake in Indian telecom player Bharti Airtel for around $2 billion.
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