Amazon can buy 9.9% stake in Reliance retail arm

US based tech giant Amazon.com Inc is in talks to buy a 9.9% stake in the retail arm of Indian conglomerate Reliance Industries Ltd as reported by leading media reports.

As per the reports published in media resources Amazon is scouting for a strategic stake in Reliance Retail for JioMart, according to tweets by the television channel. JioMart, the e-commerce venture of Reliance's retail arm, was launched in May and poses a formidable challenge to Amazon.com's local unit and Walmart Inc's Flipkart.