U.S. Markets closed

The Walmart-Flipkart deal is unlikely to make Amazon back down in India

Ananya Bhattacharya
The Walmart-Flipkart deal is unlikely to make Amazon back down in India

As if India’s e-commerce space had not seen enough drama already, a new entrant has arrived with the promise to take it to the next level. In a $16 billion (over Rs1 lakh crore) deal, US retail giant Walmart is buying a majority stake in the largest domestic player in the space, Flipkart. This move…