Google along with Paytm Mall will invest Rs.3500-4000 crores in the Future Retail of Kishore Biyani
Google is looking forward to team up with Paytm mall and invests Rs.3500-4000 crore in the Future retail chains. Google According to reports Google wants to join hands with Alibaba backed Paytm mall and form a consortium after which they will be investing around Rs.3500-4000 crore to buy 7-10% stake in the Future Retail chain owned by Kishore Biyani. The consortium will then be pitted against the world’s largest online retailer, Amazon who has also submitted a term sheet to get a similar stake at the Future Retail group. The Chief Executive of Future group has been exploring various ways to raise funds for a strategic partnership so that it can streamline its operations and increase the profitability as he faces challenges and has to fight other deep-pocketed retail chains like Reliance Retail, Amazon and also Wal-Mart. All the competitors are eyeing the changing demographics of India and a digital economy of $1 trillion by 2025 through their consolidated presence. In...