(Bigstock Photo) Walmart is purchasing a majority stake in Flipkart, the very best online merchant in India, further afield its conflict with Amazon into the worldwide stage. Walmart is paying $16 billion for a 77% stake in Flipkart, the business announced Wednesday, with the remainder controlled by existing investors such as Tencent, Microsoft, co-founder Binny Bansal and Tiger Global. The price is a mix of $2 billion in equity and Walmart buying other investors. Long-term, Walmart aims to support Flipkart’s transition into your publicly listed subsidiary. The deal provides Walmart an even larger presence India, in which it currently has 21 stores in 19 cities. The nation of 1.3 billion people has turned into a battleground in the worldwide pursuit for internet retail dominance, together with Amazon also planting its flag there. “India is one of the most attractive retail markets on the planet, given its size and expansion rate, and our investment is a chance to associate with the business that is resulting transformation of eCommerce in the current market,” Doug McMillon, Walmart president and CEO said in a statement. Amazon has predicted that India is going to be the company’s top market outside the U.S. over a decade. Amazon has been committed to spend at least $5 billion in India, such as bringing its Prime fast-shipping program there and creating original movies and TV shows. Flipkart boasts more than 100 million users, 100,000 sellers and 80 million items on its platform. The 11-year-old firm reported $4.6 billion in net sales this past year, according to Walmart, a rise of 50 percent over the preceding year.