🔥 Amazon scores a huge court victory in India
The biggest legal fight in India is over a grocery store that is so big Amazon wanted a piece.
The Indian company Future Group owns hundreds of food markets and shops: But it hasn’t been doing so well financially. Amazon invested $200 million and reserved first purchasing rights if Future Group decided to sell.
Reliance Industries, a massive Indian corporation, entered the picture: Future Group agreed to sell to them for $3.4 billion. As for that agreement with Amazon? Well Future Group and Reliance figured the Indian courts wouldn’t allow it because of the stringent regulations the country has against foreign investors.
But that’s not what happened: The Supreme Court of India sided with Amazon last week, according to the NYT, blocking the sale to Reliance.
The bigger picture for Amazon
The eCommerce giant not only gets the win, but it may also get future opportunities in India. The courts and regulators had traditionally been hesitant to foreign businesses, but this legal decision could be a sign of changing times.
If Amazon’s legal battles against regulators and Congress are half as successful in the U.S. as they are in India, Jeff Bezos’s company will be in great shape.