Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Amazon may invest in Reliance Retail

Amazon may invest in Reliance Retail

In an effort to expand its footing in India, Seattle based e-commerce giant Amazon is reportedly in talks with Reliance Retail to pick up a stake in the Indian retail giant. Reliance Retail is India’s largest brick-and-mortar retailer. Reliance’s nationwide chain of stores could act as a seller on Amazon’s food and grocery platform.

According to recent revisions in the regulations, Amazon can only purchase a stake of 26% in India’s retail giant, since the country inhibits foreign direct investment in order to avoid any backlash from Indian local and traditional retailers and shop owners. If or when Amazon purchases a stake, it could expand and achieve significant penetration in the Indian markets. Reliance Retail operates 10,644 outlets in 6700 cities across India, which generates revenues of over 73,000 crore ($10 billion approximately). The company has separate outlets for electronics and home appliances, apparel, and groceries.

India represents a massive market for the American retail giant, in light of the country’s population of over 1.3 billion people. However, online retail accounts for only about 3% of the entire retail industry and Amazon is wasting no time in moving into to capture as large a share of the conventional retail market as possible.

Reliance had earlier been in talks with Chinese e-commerce giant Alibaba Group. But both companies could not come to any agreement.   


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...