After a longstanding tug-of-war with Amazon, Walmart is set to purchase 75% of Flipkart, India’s largest e-commerce platform, in a deal worth nearly $15 billion. Flipkart was founded by ex-Amazonians Sachin and Binny Bansal in 2007, and ramped up their offerings in 2013 to compete with the arrival of Amazon in India.
Despite Walmart’s move, Amazon is not throwing in the towel when it comes to e-commerce in India. In his shareholder letter, Amazon CEO Jeff Bezos described Amazon.in as “the fastest growing marketplace in India,” noting that the “mobile shopping app was also the most downloaded shopping app in India in 2017, according to App Annie.” Even more impressive, “Prime added more members in India in its first year than any previous geography in Amazon’s history,” according to Bezos’s letter.
Grocery is a major focal point for Amazon, and this is especially true in India. “Probably in the next five years groceries and consumables would be more than half of our business,” Amit Agarwal, the India head of Amazon, said in a Reuters article. Out of India’s 500 million internet users, 100 million are Amazon users, and Agarwal wants to see this number double. “We’ll deliver everything to you in two hours,” he claims, including fresh groceries and other perishables.
This article is part of a series of daily posts called Quick Bites.
For more, read Buying Internationally on Amazon Gets Easier (Sort Of).