Investors Should Follow Amazon and Walmart's Diwali Clash in India

Many discussions about the war between Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT) focus on the U.S. market, where both retail giants are trying to lock in customers with free and same-day delivery options. However, investors should also pay close attention to India, where the two companies dominate the e-commerce industry.

Amazon and Walmart's Flipkart are currently the two largest e-commerce marketplaces in India. Morgan Stanley expects over half of India's internet users to buy products online by 2026, compared to just 14% in 2016, as income levels and internet penetration rates rise. The country's entire e-commerce market could grow from $38.5 billion in 2017 to $200 billion by 2026, according to the state-funded India Brand Equity Foundation.

Image source: Getty Images.

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Source Fool.com