Along with e-commerce Amazon, Reliance Industries also interested to buy India’s stake in the chain shop Walmart.
Earlier this year, Reliance Industries chairman Mukesh Ambani had announced plans to buy an online marketing website Amazon’s India share. At this time, Reliance Industries has made 24 trading deals with Amazon worth 173000 million. So, According to the market experts, Mukesh Ambani’s plan to buy Amazon.com in India is going to be implemented with these deals.
Reliance Industries is looking to buy Amazon’s rights in India through step-by-step investments. Reliance wants to enter India’s huge online marketing market by purchasing e-commerce site Amazon. According to market expert Kunal Agarwal, Reliance wants to create a team of skilled workers through small investments. According to Morgan Stanley Investment Banking Agency, Amazon’s market in India will increase by about 6x by 2028.
So, Reliance Industries wants to enter the e-commerce market in India for the first time in view of the rising in the future.
Investors of the company supported the vision of Reliance Industries investment policy. In the last 12 months, the share price of Reliance Industries Ltd has increased by about 48 percent.
Along with e-commerce, Reliance Industries also interested to buy India’s stake in the chain shop Walmart. That means Mukesh Ambani’s company is seeking to move towards the consumer goods market with telecom.