Walmart Store and Amazon to invest Rs 2,000 crores in India

American retail giants Walmart Store Inc and Amazon will invest more than Rs 2,000 crores to build their networks so that they are able to gain a pie of the ever growing Indian retail market. While Amazon will invest Rs 1,696 crorea, Walmart Stores will invest Rs 360 crorea. The latter, plans to open nearly 50 stores in India where around the same time it will close 270 globally. With this investment, Amazon’s total money injected into India goes up to Rs 4,800 crores. Presently, Amazon’s website has emerged as the largest with over 40 million products offered and nearly 55,000new products added each day. On the hand, Walmart is still to establish itself in India.

The Indian e-commerce market is expected to overtake Japan, Germany and the UK to become Amazon’s largest overseas market. Kumar Rajagopalan, CEO, Retailers Association of India (RAI), points out that India is one of the ‘last highgrowth markets. Modern retail remains untapped with just a 10 per cent share’. RAI expects the market size to cross USD 1 trillion in four years from USD 600 billion at present.