Bezos v Ambani in battle over India's e-commerce

Two of the world's richest men seek dominance in a booming sector

Stephanie Findlay and Anjli Raval
One of Reliance Industries' superstores in Mumbai, India. Amazon and Reliance are set to go head to head in a battle for dominance in India's booming e-commerce market, which will be worth US$86 billion (S$117 billion) by 2024, according to research
One of Reliance Industries' superstores in Mumbai, India. Amazon and Reliance are set to go head to head in a battle for dominance in India's booming e-commerce market, which will be worth US$86 billion (S$117 billion) by 2024, according to research firm Forrester. PHOTO: REUTERS
One of Reliance Industries' superstores in Mumbai, India. Amazon and Reliance are set to go head to head in a battle for dominance in India's booming e-commerce market, which will be worth US$86 billion (S$117 billion) by 2024, according to research
Despite on-and-off talks this year over the possibility of Amazon taking a stake in Reliance Retail, analysts said Mr Jeff Bezos (left) was wary of forming a partnership with the powerful Indian tycoon. Mr Mukesh Ambani, too, was reluctant to hand over any majority stake or control to his rival, people close to Reliance said, hindering any genuine effort to make a deal.
Updated
Oct 27, 2020, 06:07 AM
Published
Oct 27, 2020, 05:00 AM
New: Gift this subscriber-only story to your friends and family

Amazon chief executive Jeff Bezos is squaring up against Reliance Industries founder Mukesh Ambani over the Indian retailer Future Group, drawing battle lines between two of the world's richest men over the country's lucrative e-commerce market.

On Sunday, the Singapore International Arbitration Centre granted an emergency interim order in Amazon's favour, after the US tech group filed a complaint connected to a US$3.4 billion (S$4.6 billion) deal that Reliance struck with Future Group in August.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

ST One Digital

 $9.90/month

No contract

ST app access on 1 mobile device

Subscribe now

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on October 27, 2020, with the headline Bezos v Ambani in battle over India's e-commerce. Subscribe

Available for
iPhones and iPads
Available in
Google Play

MCI (P) 066/10/2023. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2024 SPH Media Limited. All rights reserved.

Back to the top