Amazon and Google are in fierce competition over streaming, but their spat had sparked concerns of anti-competitive conduct by locking out an important rival.
McMillon, accompanied by 15 top executives of Walmart, also told the employees that India is a “very big and crucial market” for Walmart, and Flipkart.
The investment shows that the company is keen to enter the food space in India with ARIPL, which sells groceries and home supplies.
Amazon’s lack of video content revealed a weakness in shopper engagement and product discovery other sites were doing better.
Early this month, Starbucks executive Rosalind Brewer joined the Amazon Board.
While Amazon may suffer double the loss in three years, Walmart could go through a loss of $280 million from Flipkart.
Modi’s poll- driven moves, Ambani beat Bezos’s plans to dominate Indian e- commerce market.
India’s new e-commerce investment rules bar online retailers from selling products via vendors in which they have an equity interest, and also from making deals with sellers to sell exclusively on their platforms.
Online marketplaces must treat all vendors equally by providing the same terms, India’s trade ministry said Wednesday. In practice, this means barring e-commerce companies from forcing a seller to feature products exclusively on their platforms and limiting ownership or control over the marketplace’s inventory. The government says the changes will promote fair trade and curb foreign companies’ influence in setting domestic prices.
Amazon’s journey is being traced.