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Flipkart to spend $2B cash to compete with Amazon

Flipkart Online Services Pvt. Ltd. will spend $2 billion over the next 18 months in an effort to compete with rival Amazon.com Inc.'s Indian arm over sales and business growth, LiveMint reported May 22.

Flipkart intends to take a more proactive approach to its sales growth after its takeover by Walmart, which has agreed to pay $16 billion to buy a 77% stake in Flipkart.

Flipkart’s increased spending means Amazon will have to double down on its $5 billion investment plan in India in order to keep up with its rival, the report added. Amazon has invested approximately $3.5 billion in India to expand its business.