Walmart's Flipkart controlled 48% of the Indian online retail market last year, while Amazon had 26%. (Source photos by Reuters)

Amazon falls behind Walmart in battle for India's online shoppers

Controversial $16 billion Flipkart deal gives Walmart an e-commerce edge

SAYAN CHAKRABORTY, Nikkei staff writer

May 12, 2023 06:00 JST

Updated on May 15, 2023 13:00 JST

BENGALURU -- Walmart is beating Amazon in the battle for online consumers in India, a rare e-commerce win for a U.S. retailer known for selling low-cost goods in bare-bones stores.

Walmart struck the most expensive e-commerce deal in history to break into the Indian market in 2018, paying $16 billion for a 77% stake in Flipkart, an online retailer founded by former Amazon employees in the world's most populous country.