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Amazon may trying to buy Flipkart: Report

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The online industry is booming in the Indian market. Many online retailers are operating their businesses in the country. There is great competition among various online retailers. Flipkart is also one of the top online retailers in India with more than 40% market shares. Amazon is trying its best to buy Flipkart to boom its sales and compete with Walmart. Here, it is also interesting that Flipkart is also in talks with Walmart. The experts are hopeful that the deal with Walmart is more likely to take place. This means that US online retailers are trying to dominate the Indian market. Here, it is also worth mentioning that India is the second largest economy in Asia.

However, as per reports, there are chances of the deal with Amazon are lower. This is because any such deal will establish the monopoly in the country. Here, it is pertinent to mention that both Amazon and Flipkart dominate the Indian e-commerce market. Amazon has declined to comment on this deal also.

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Walmart is in talks with Flipkart to buy 40% shares of Indian based online retailer. If the deal finalizes, it would be the greatest ever overseas deal of Walmart. This would also enable Walmart to dominate such a market that is going to be worth $200 billion in a decade. This would also prove a challenge for Amazon to operate its online business in Asia. Earlier, Amazon had also announced to invest $5 billion in India to expand its grocery delivery.

There are reports that Walmart may buy a majority stake in Flipkart through primary and secondary share purchases. The deal may also value Flipkart about $21 billion. Here, it is important to mention that Flipkart is an Indian based company founded in 2007. The former Amazon employees Sachin and Binny Bansal are the owners of this online retailer.

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