What: Retail war is heated in India, which is considered as the market with the biggest ROI perspectives.

Why it is important: Reliance is heading towards a retail domination with a omnipresent retail footprint linked to a “super app” similar to what we see in China (and other Asian markets). Amazon which has been investing heavily in the market is making everything possible to remain significant on the market.

India’s top retailer Reliance has called off a $3.4bn deal with Future Group. This deal was already in difficulty after Amazon, Future Group’s partner, blocked it in 2020 citing violations of certain contracts.

Future Group, one India’s second-largest retailer with 1,500+ stores in the country, faces bankruptcy now that its lenders have also pulled off. The company was already in trouble earlier in the year, as Reliance seized control of hundreds of Future stores, based on non-payment of rent.

Indian group Reliance call off deal with Future Group