Amazon’s $5b Plan for India’s e-Commerce, Boom for Bitcoin?
Following a recent disclosure that Wal-Mart Stores Inc. is in discussions with India’s largest e-commerce company by sales Flipkart Ltd., Amazon is making a similar push with the aim to make Amazon India’s top online store by sales ahead of the Diwali shopping season.
Flipkart, Amazon and the ‘festival of lights’
Flipkart had earlier held discussions with Chinese e-commerce company JD.com Inc. for a possible investment a few months ago but it didn’t result in a deal. An alliance with Wal-Mart would bolster its fight against Amazon and other Indian competitors, such as Jasper Infotech Pvt.’s Snapdeal.com.
Amazon is spending $5 billion, aiming to dominate e-commerce in India. This will support its provision of 80 million products for sale, 120,000-plus merchants and more than two dozen warehouses.
This post was published at Coin Telegraph on 2016-10-05.