Amazon Steps Up Its Game to Counter This Growing Threat in India

Amazon (NASDAQ: AMZN) is facing the heat in India from local player Reliance Retail, which has been rapidly expanding its online and offline presence to take a bigger bite out of the country's retail space. Reliance Retail recently announced that it is buying the retail and wholesale assets of Future Group in a deal worth $3.4 billion, a move that would give the Mukesh Ambani-led conglomerate access to the latter's 2,000 retail stores spread across 400 cities and towns. This deal is going to augment Reliance's existing retail footprint in the country, which in turn is supporting the rapid growth of the company's JioMart e-commerce venture.