VARINDIA IT MAGAZINE

Amazon is free to challenge the Future Group Deal says Court:  Reliance Industries   agreed to buy   Future Group   but   Amazon   objected. The Jeff Bezos-led company already got an order from a Singapore arbitrator stopping the deal between Mukesh Ambani and Kishore Biyani from progressing.   India's retail sector is likely to grow 46 percent over the next four years to an annual $1.3 trillion (roughly Rs. 95,74,500 crores), showed data from Forrester Research. The key battle is over groceries, likely to be worth around $740 billion (roughly Rs. 54,50,100 crores) a year by 2024, the data showed. Reliance and Future are geared to dominate the market in India, with the next competitor, DMart, being far behind in terms of stores and reach. In response, Future Group went to the Delhi High Court seeking it to stop the global e-commerce giant from interfering in the deal between. The Delhi High Court on Monday dismissed a plea from India's Future Group tha...

Mukesh Ambani, Chairman, Reliance Industries, said, “With Digital India, the Government has moved faster than the industry. He added that Reliance Jio Infocomm will invest Rs.2, 50,000 crore as part of Digital India programme. The company will also roll out a best-in-class internet network.”   See more