As much as USD 2.1 billion worth of M&A (merger and acquisition) transactions were inked in 2017 in the booming Indian e-commerce industry, which may soon witness its largest-ever deal - the proposed Flipkart-Walmart nuptial.
According to data from Grant Thornton, 21 deals worth USD 2,112 million were seen in 2017 with participation from players like Paytm and Flipkart.
This, however, was lower compared to 2016 which saw deals worth USD 2,224 million (18 transactions) being inked, as per the global audit and advisory firm.
In the January-April 2018 period, six transactions worth USD 226 million were seen, according to the data.
If the Walmart-Flipkart deal indeed goes through, it would be the largest so far in the Indian e-tailing market that is forecast to grow to USD 200 billion by 2026 (Morgan Stanley estimate).
"The Indian e-commerce market is here to stay and grow. The frequency of purchases will increase," Vidhya Shankar, Executive Director, Grant Thornton India told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)