Why Indian internet market trumps China's for Jeff Bezos, Warren Buffett

Amazon and Flipkart have cornered about three-quarters of the online Indian retail market, but other big players are getting aggressive


Companies News: India's long-neglected retail market is turning into one of the world's hottest thanks to Warren Buffett, Jeff Bezos and a frenzy of billion-dollar dealmaking.

Walmart Inc just wrapped up a $16 billion agreement for control of the country's leading e-commerce player, Flipkart Online Services Pvt, while Bezos' Amazon.com Inc negotiates deals with a large supermarket chain and an investment in a prominent retail conglomerate, according to local media. This week, Buffett's Berkshire Hathaway Inc agreed to acquire a stake in the company behind digital payments leader Paytm.

Why the sudden interest in India? The new optimism is fueled by rising standards of living, increases in smartphone usage and cheap data plans that are boosting internet penetration across the nation. Perhaps most important, India is the last big retail market still up for grabs, with an internet economy projected to double to $250 billion by 2020.


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