Are Amazon and Walmart Ready to Face This Gigantic Challenge?

The looming threat of Reliance Retail's move into e-commerce business in India has been hanging over Walmart (NYSE: WMT) and Amazon (NASDAQ: AMZN) for quite some time now.

Led by India's richest man, Mukesh Ambani, Reliance Retail has been gradually testing the waters of India's e-commerce space that is currently dominated by Amazon and Walmart subsidiary Flipkart. And now, Reliance Retail's online grocery platform, JioMart, has started making swift inroads through quick expansion into several Indian cities thanks to the company's existing infrastructure.

Image source: Getty Images.

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Source Fool.com