News > Reliance Seen Emerging As Bigger Threat For US Firms Like Amazon, Walmart

Reliance Seen Emerging As Bigger Threat For US Firms Like Amazon, Walmart

A $20 billion fund raising spree may take Reliance closer to its dream of becoming a digital giant, further threatening the ambitious plans US companies like Amazon, Walmart and Zoom have for India. Stake sales in Reliance’s digital unit Jio Platforms attracted not just private equity and sovereign wealth funds but also Google and Facebook.

Some industry watchers equate Reliance's digital plans to China's Alibaba and Tencent, companies Reliance itself calls "global peers".