According to Reuters report Walmart is close to buying 51% or more share in flipkart. The deal is to be worth between $10 billion to $12 billion.
Flipkart currently controls 57% of India’s e-commerce market while Amazon is at 40%. If Walmart becomes successful in acquiring flipkart, it will be a major lead in its competition with Amazon. Walmart is trying to get into Indian market but isn’t able to get hold of it, with flipkart it could lead the fast growing online retail industry which will be worth $200 billion in next decade.
While Amazon is also trying to acquire flipkart which will make it the biggest online retailer in India by controlling almost 70% of the market.