In July, Jeff Bezos-led Amazon had invested Rs. 2,310 crores in Amazon Seller Services and early this year announced a $1 billion (roughly Rs. 7,317 crores) investment to bring more than 10 million small businesses online in India by 2025.
Oil-to-telecom conglomerate Reliance is also expanding its new commerce venture and has raised Rs. 37,719 crores in a month by selling stakes in its retail unit to investors including KKR, private equity firm Silver Lake and Abu Dhabi state fund Mubadala.
Meanwhile, this week, Amazon sent a legal notice to Future Group, alleging the retailer's $3.38 billion (roughly Rs. 24,696 crores) asset sale to Reliance breached an agreement with the e-commerce giant.