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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.   

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