Walmart Hammers Amazon in India, Gets Ready to Deal Another Blow
India is turning out to be an intense battleground for Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT). Both companies have poured billions of dollars into this fast-growing e-commerce market, which is expected to hit $200 billion in revenue by 2027, according to Morgan Stanley estimates, and one of them seems to be coming out on top.
Walmart was late to the Indian e-commerce scene, even though it had been operating physical cash-and-carry stores in the country since 2009. Walmart spent $16 billion to buy its way into the Indian e-commerce market through a 77% stake in Flipkart last year, and thus began the battle between the two giants for this lucrative opportunity.
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Source Fool.com
