The battle for dominance in one of the fastest-growing major (amazon in) retail markets is being fought on  (reliance share price) the ground in India and the courts in Singapore and New Delhi.

                                      in-Indias-retail-a-battle-of-billionaries




Amazon.com Inc’s chief executive Jeff Bezos, (amazon in)  the world’s wealthiest man, is determined to retain his company’s pre-eminence in India’s retail market, estimated to reach $1.3 trillion by 2025, amid a surge in  (reliance share price)online shopping, and stave off an equally determined challenge from Mukesh Ambani, Asia’s richest and chairman of Reliance Industries Ltd, which runs the country’s largest offline retail chain.


The battle for dominance in one of the fastest-growing major retail markets is being fought on the ground in India and the courts in Singapore and New Delhi. (amazon in) 

The current bone of contention is the assets of Future Retail Ltd, which runs the Big Bazaar supermarket chain. Ambani’s Reliance Industries agreed in August to buy the indebted Future Group’s assets for ₹24,713 crore, just about a year after Amazon had purchased an indirect stake in Future Retail. Amazon has opposed the sale, claiming it violates Future Group’s investment agreement with it.

What are the next steps in the transaction?

The ruling shifts the spotlight to the Securities and Exchange Board of India and the ministry of corporate affairs, where Amazon is challenging the deal. The Competition Commission of India cleared the transaction in November.

What happens if the deal collapses?

Future Retail may face possible bankruptcy. It has defaulted on payments earlier this year and has posted a string of losses. A quick resolution of the dispute is critical for the store chain and its founder Biyani.