NEW DELHI (Reuters) – Amazon.com Inc has filed an appeal with an Indian court in an ongoing dispute against local partner Future Group’s plan to sell its retail assets to Reliance Industries, a source familiar with the matter told Reuters on Monday.
Future Group, which operates supermarkets and high-end food stores across India, agreed to sell its retail assets to oil-to-clothes conglomerate Reliance in August for $3.4 billion but Amazon has alleged the deal breached agreements Future had made with the U.S. company in 2019.
The outcome of the dispute has implications for the future shape of India’s retail landscape, especially in deciding who will have an upper hand in the groceries market expected to be worth around $740 billion a year by 2024.
Amazon also took Future to a Singapore arbitrator, which passed an interim order in October saying the Reliance deal should be halted. The Indian retailer has maintained that order is not binding and has instead mounted another legal challenge in a New Delhi court.
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