rediff.com
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff News  All News 
Rediff.com  » Business » Narayana Murthy plans India JV with Amazon

Narayana Murthy plans India JV with Amazon

June 27, 2014 13:44 IST

Image: Narayana Murthy
Photographs: Courtesy, Infosys Abhirup Roy

Infosys Ltd co-founder N.R. Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc through his investment firm, Catamaran Ventures, The Economic Times reported.

..

Narayana Murthy plans India JV with Amazon

Image: A worker collects items to pack into boxes at Amazon's logistics centre in Graben near Augsburg.
Photographs: Michaela Rehle/Reuters

Catamaran confirmed the planned venture with Amazon Asia, the business daily reported on Thursday. 

Amazon and Catamaran were not immediately available for comment. 

Narayana Murthy plans India JV with Amazon


Photographs: Reuters

Catamaran will hold a 51 percent stake in the business, as required under India's foreign direct investment rules, the newspaper reported, citing sources.

Narayana Murthy plans India JV with Amazon


Photographs: Reuters

Murthy built up Infosys into one of India's top outsourcing service companies.

He stepped down as executive chairman of the company earlier this month.

Source: REUTERS
© Copyright 2022 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.