Gautam Adani On Team Walmart In Fight Vs Amazon-Mukesh Ambani

Monday, 12 April 2021Newsdesk

Walmart Inc.'s e-commerce unit signed a pact with tycoon Gautam Adani to build one of the largest retail warehouses in India, as the U.S. giant gears up to battle Amazon.com Inc. and homegrown rivals in the nation.

New Delhi, 12 April 2021

As per news report of NDTV, The partnership marks the entry of Adani, India's fastest-rising billionaire, into the three-way fight for domination of India's online shopping space. Up against the Walmart-Adani alliance is not just Amazon, but also Reliance Industries Ltd., the conglomerate owned by Mukesh Ambani, the country's and Asia's richest man. They all want a slice of a market estimated to generate $200 billion in sales by 2026 -- turbocharged by pandemic restrictions that are keeping people away from brick-and-mortar stores.

Source -NDTV