Founder Jeff Bezos has vowed to spend $5 billion in India to gain share as the market surges. Flipkart, Snapdeal and SoftBank all declined to comment. That would give Flipkart more firepower to battle Amazon in one of the world’s fastest growing online retail markets. An alliance among Flipkart, Snapdeal and EBay could give the business customers, scale and technology, though it’s not clear how easily those could be integrated. “This is a landmark deal for Flipkart and for India,” the company’s co-founders Sachin Bansal and Binny Bansal said in a statement.

Source: Economic Times May 16, 2017 01:41 UTC