 30-Aug-18, Payments Source 

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.

Image: Bloomberg

Walmart just wrapped up a USD16 bn agreement for control of the country’s leading e-commerce player, Flipkart, while Bezos’ Amazon.com negotiates deals with a large supermarket chain and a prominent retail conglomerate. Buffett’s Berkshire Hathaway agreed to acquire a stake in digital payments leader Paytm.

The new optimism is fueled by rising standards of living, increases in smartphone usage and cheap data plans. India is the last big retail market still up for grabs, with an Internet economy projected to double to USD250 bn by 2020.

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 Consumer & Retail insights