- Thursday, April 25, 2024
By: Sarwar Alam
With 100 million new internet users every year, Amazon is betting big on India, but a major new investment in homegrown rival Flipkart means the battle to dominate the fast-growing e-commerce market is set to heat up. Flipkart announced this week that top international companies including Microsoft, eBay and China’s Tencent had pledged investments totalling $1.4 billion, among the largest sums ever raised by an Indian start-up. The 10-year-old e-commerce company needs all the help it can get to compete with Amazon after the Seattle-based giant made India’s 1.25 billion inhabitants a global strategic priority, earmarking $5 billion in investment…
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