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Reliance spokesperson Tushar Pania did not immediately respond to requests for comment.
In Indian legal circles, the decision was seen as another sign of the country’s judicial independence. criticized in the past eroding freedom of expression.
India’s judiciary has long been seen as a pillar of the country’s vast but often rebellious democracy. Recently, he has made a number of progressive decisions, including. granting bail to activists arrested under strict anti-sedition and terrorism laws, lifting the ban on consensual gay sex and protect the right to privacy.
The war between Amazon and Reliance Industries isn’t over yet.
Future Group said in a statement. stock market filing On Friday, he said he plans to “follow all available paths to finalize the deal” with Reliance. Future Group may appeal the Singapore arbitration court’s decision or file a review petition with the Supreme Court of India. Company spokesman Swetank Jain said the lawyers were reviewing the best course of action.
Amazon is facing investigation from a government antitrust watchdog over a deal with a unit of Future Group. Late last month, the Competition Commission of India issued a reason for show statement accusing Amazon of not being frank about the agency’s involvement in Future Retail when it signed the deal in 2019. -business and other fields, and the company with an enormous treasury of customer data, United States and Europe additionally.)
The agency’s head, Ashok Kumar Gupta, did not immediately respond to requests for comment.
Future Group’s supermarkets and other stores can serve as a base for building or expanding an e-commerce empire in India, a potentially lucrative prize. According to Forrester Research, India’s online market is expected to be worth $85.5 billion by 2025. Facebook, Walmart and others are also investing heavily in the country.
Sanjeev Kumar, a New Delhi-based analyst at Forrester Research, said Amazon’s push to enter India’s nascent grocery retail market is aimed at fighting Flipkart. Controlled by Walmart. The country’s food retail market is expected to be worth $10 billion by 2025, he said.
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