Just as Amazon (NASDAQ: AMZN) announced its platform is the fastest growing marketplace in India, Walmart (NYSE: WMT) is said to be near closing a deal to take a majority stake in Indian e-commerce giant Flipkart. Amazon and Walmart are both eager to become the "Amazon of India," and for good reason: India's e-commerce market is expected to hit $200 billion in 2026, up from $15 billion in 2016.