Indian court dismisses Future Group's plea against Amazon

MUMBAI, 21 December 2020, TON - The New Delhi High Court dismissed a plea from India’s Future Group, In which they want to restrain U.S. partner Amazon.com Inc to sale their asset of $3.4 billion to Reliance Industries Ltd.

Amazon said Future Group breached agreements that they made with Amazon in 2019. It sold retail assets in August to Reliance Industries.

Amazon received a restraining order from a Singaporean mediator in October, in which the parties agreed to use it in the case of a dispute.

It was later stated that the order was not binding, prompting Amazon to file a complaint with the Indian market regulator.

According to Forrester Research, India's retail sector will grow by 46% to $1. 1.3 trillion per year over the next four years. Statistics show that the main battle is over groceries, which will be around $7 40 billion a year by 2024.

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