Google and Alibaba-backed Paytm Mall might soon join hands to form a consortium to take on Amazon. According to insiders, the consortium might invest Rs 3500-4000 crore for a 7-10% stake in Future Retail, the flagship company of Kishore Biyani. The Future Group CEO has been on the hunt for strategic partnerships to streamline operations and increase profits as the group fights online and offline retailers with deep pockets such as Reliance Retail, Amazon and Walmart who have an eye on India with its changing demographics and a $1 trillion digital economy in the offing.
Source: economictimes.indiatimes.com

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