Flipkart is a subsidiary of Walmart Inc and ultimately belongs to the Walmart Group. It is primarily engaged in the business of wholesale cash and carry of goods and providing marketplace-based e-commerce platforms to facilitate trade between customers and sellers in India.

The Competition Commission approved Alphabet's Shoreline International Holdings LLC's stake acquisition in Flipkart, a Walmart group firm. This involves share subscription, further cementing Alphabet's investment strategy in Indian e-commerce.

The CCI stated that the deal includes an investment in Flipkart Pvt Ltd and an arrangement between an affiliate of Alphabet and Flipkart's subsidiary for specific service provisions.

In May, Google became a minority investor in Flipkart's extended funding round, joining Walmart in providing $350 million. This investment brought the domestic marketplace's total funding to $950 million,

The Competition Commission on Tuesday granted approval to Alphabet's arm Shoreline International Holdings LLC to acquire a stake in Walmart group firm Flipkart.