The Mukesh Ambani led Reliance Industries is very close to finalizing a deal with the Future Group headed by Kishore Biyani wherein the Indian market giant will be investing in buying stakes in some group companies of the Future Group.
The announcement regarding, is expected to be made next month. This deal is expected to provide a boost to the e-commerce ambition of the Reliance Group of Industries. There are five main listed units of the Future Group including the food, home, and personal care products dealing with Future Consumer and the fashion discount chain, Fashion Brand Factory. The reports, however, have confirmed that no final decision has been made yet in this regard and the talks may still get delayed.
A successful deal is expected to intensify the war to win over the Indian Shoppers market not only online but also in the physical stores. With Amazon pledging to invest $5.5 billion in the Indian market, and Walmart Inc. having already spent $16 billion in buying the local e-commerce leaders like Flipkart in 2018, such move is based on the company’s policy to evaluate various available opportunities on an ongoing basis which will surely draw a line of war in capturing the market. But this is sure to bring relief to Kishore Biyani as it will help in reducing his spare debt.