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Flipkart is one of Amazon's key competitors in the India market.
Flipkart is one of Amazon’s key competitors in the India market.

Walmart, the world’s largest retailer, is in advanced talks to invest $1 billion in Indian e-commerce site Flipkart, as reported today by Bloomberg News.

The potential deal would give Flipkart a competitive edge when taking on Amazon and the Alibaba-backed Snapdeal in the competitive Indian e-commerce market, the third largest in the world. Walmart would receive a minority share in Flipkart, as well as a chance to take on Amazon on more favorable footing than it holds in the United States.

The talks come only a few months after Amazon vowed to pour another $3 billion into its India operations, bringing its total investment in that area to $5 billion. Walmart in August announced a deal to buy Amazon rival Jet.com for $3.3 billion.

Flipkart was founded by two ex-Amazonians in 2009, and now has an annual revenue of over $1.5 billion.

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