Amazon Isn't Walmart's Only Threat In India

Walmart's (NYSE: WMT) tossing its hat into the ring in one of the world's biggest growth markets. The retail giant made its biggest bet ever, taking a 77% stake in Flipkart, the leading e-commerce retailer in India, for a whopping $16 billion. It was the biggest acquisition in the company's history, and it gives Walmart a promising foothold in an economy that's expected to be the world's second biggest by 2040.Walmart explained the move, saying, "India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market." Continue reading