Amazon Could Soon Acquire 10% of India’s Second Largest Retailer
According to people close to the negotiations, Amazon is nearing a deal with India’s Future Retail for up to a 10% stake in the supermarket firm. It appears Amazon is seeking to expand its physical store presence with an investment in an Indian brick-and-mortar retailer. If the talks don’t fall through, the deal would signify another big step by the e-commerce giant to gain marketshare in India, where previously regulations on foreign retailers had made a mess of its plans.
Discussions between the Seattle-based retailer and Future Group revived recently, said the people, after waning earlier this year when India tightened rules related to online retail, throwing Amazon and Walmart’s grand plans for the nation in disarray.