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Amazon said to edge past Flipkart in India e-commerce market amid mounting losses

Barclays estimates Amazon's gross merchandise volume at $7.5 billion last year

Flipkart continued to lead with a revenue of $3.8 billion in the year ended in March, compared with Amazon’s $3.2 billion.   © Reuters

MUMBAI (NewsRise) -- Amazon.com topped India's e-commerce market last financial year, selling more merchandise than its local rival Flipkart Internet, Barclays said, even as concerns deepen about mounting losses at the two companies locked in a high-stakes battle for market share.

According to Barclays, Amazon clocked $7.5 billion in gross merchandise volume in the year ended in March, compared with $6.2 billion at Flipkart. The figures of Flipkart exclude its fashion arms Myntra and Jabong. When these units are included, the companies stood neck-and-neck in their sales volumes.

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