A $20 billion fund raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the ambitious plans U.S. companies like Amazon, Walmart and Zoom have for India.
Amazon.com is in early-stage talks to buy a stake worth at least $2 bn in Indian mobile operator Bharti Airtel , three sources said, underscoring the growing attraction of India's digital economy for U.S. tech giants.
Facebook's $5.7 billion investment in Reliance promises to be the biggest headache yet for Paytm, a pioneer in India's digital payments market but which has been losing ground to rivals with deeper pockets.
Amazon.com Inc’s Indian arm will soon add small local shops as sellers on its platform as a way to provide them broader online exposure and offer consumers a greater selection of merchandise, the company said.
Facebook will spend $5.7 billion to take just under 10% of Reliance Industries' digital unit, seeking to roll out services for small businesses by capitalising upon WhatsApp's already extensive reach within India.