Are Amazon and Walmart Ready to Face This Gigantic Challenge?

Are Amazon and Walmart Ready to Face This Gigantic Challenge?

The looming threat of Reliance Retail's move into e-commerce business in India has been hanging over Walmart (NYSE: WMT) and Amazon (NASDAQ: AMZN) for quite some time now. Led by India's richest man, Mukesh Ambani, Reliance Retail has been gradually testing the waters of India's e-commerce space that is currently dominated by Amazon and Walmart subsidiary Flipkart.