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Amazon in talks with India's Future Group to acquire 10% stake

US giant seeks partner to help it tap country's traditional retail market

Amazon looks for help with its goal to take substantial leads in India's online and offline grocery markets.   © Reuters

BANGALORE -- and Future Group are reportedly in advanced talks for the U.S. e-commerce pioneer to buy a 10% stake in India's third-largest merchandiser so the partners can tap the Asian giant's traditional walk-in consumer.

India has one of the world's fastest-growing retail markets, which is expected to be worth $1.2 trillion by 2021, a big jump from $795 billion in 2017, according to a report by Deloitte India and Retail Association of India. However, the country's brick-and-mortar retail mostly consists of mom-and-pop groceries and other small-scale merchants. As a result, the retail landscape is strewed with opportunities.

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