Chinese e-commerce giant Alibaba is in talks with Mukesh Ambani’s Reliance Retail to form a joint venture with an investment of $5 billion. The Chinese behemoth has offered to acquire a large stake in Reliance Retail to take on India's largest e-retail giant Flipkart and Jeff Bezos-owned Amazon. According to Business Today, Alibaba may buy up to 50 per cent stake in the retail firm. Group executive chairman Jack Ma had met Reliance Industries chairman in July.
Goldman Sachs is advising Alibaba on the proposed venture, reports said. The ongoing talks indicate two things. One, India’s e-retail space is likely to continue growing at a fast pace. Two, the competition in the e-retail space is likely to grow. If a deal is signed, it will be Alibaba’s largest investment in an Indian company. Reliance Retail is the largest retailer in India in terms of revenue.

Chinese e-commerce giant Alibaba is in talks with Mukesh Ambani’s Reliance Retail to form a joint venture with an investment of $5 billion. The Chinese behemoth has offered to acquire a large stake in Reliance Retail to take on India's largest e-retail giant Flipkart and Jeff Bezos-owned Amazon. According to Business Today, Alibaba may buy up to 50 per cent stake in the retail firm. Group executive chairman Jack Ma had met Reliance Industries chairman in July.
Goldman Sachs is advising Alibaba on the proposed venture, reports said. The ongoing talks indicate two things. One, India’s e-retail space is likely to continue growing at a fast pace. Two, the competition in the e-retail space is likely to grow. If a deal is signed, it will be Alibaba’s largest investment in an Indian company. Reliance Retail is the largest retailer in India in terms of revenue.