The Competition Commission of India (CCI) has approved Alphabet Inc.'s Shoreline International Holdings LLC to purchase a portion of Walmart-owned Flipkart, marking a significant milestone for the country's e-commerce industry.

Google’s parent company, Alphabet, has received approval to acquire a stake in Flipkart through its subsidiary Shoreline International.

According to a press release published by the Press Information Bureau of India, the Competition Commission of India (CCI) has greenlit a significant transaction involving the investment in Flipkart Private by Alphabet-owned Shoreline International Holdings.

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.

India's Competition Commission (CCI) has approved Google parent Alphabet's investment in Flipkart. Alphabet's Shoreline International Holdings will acquire a stake in the Walmart-owned e-commerce giant.

The CCI has approved a significant transaction involving Flipkart Private Limited, a Walmart Group company, and Shoreline International Holdings LLC, an Alphabet Inc.