e-commerce
Competition Commission clears Alphabet’s investment in Flipkart
MUMBAI: Indian ecommerce giant Flipkart -owned by US retail major Walmart – has a new minority shareholder. India’s monopolies and fair trade watchdog, the Competition Commission of India, on 26 November, gave the green signal to Alphabet’s subsidiary Shoreline International Holdings LLC to acquire a stake in it. Shoreline International Holdings is a wholly-owned offshoot of Alphabet, Google’s parent company. It is a holding firm and does not own or operate any Google products or services.
“The proposed transaction comprises an investment through subscription of shares of Flipkart Pvt Ltd (Target) by Shoreline International Holdings LLC (acquirer) and an arrangement between an affiliate of the acquirer and the target’s subsidiary for the provision of certain services,” the regulator said in a release.
Flipkart mainly offers wholesale cash and carry operations and runs marketplace-based e-commerce platforms to facilitate trade between customers and sellers in India.
In 2023, Flipkart had started a funding round of close to a billion Us dollars which included $350 million from Google and around $600 million from Walmart. The agreement with Google also included, according to reports, access to its cloud services which would allow it expand its digtal infrastructure further. With that its valuation had risen to $36 billion and it said it would use the money to expand into quick commerce and other fintech ventures.
85 per cent owned by Walmart, Flipkart will probably move towards an IPO in the not-too-distant future, as it is something which the Binny Bansal and Sachin Bansal-founded firm has been thinking about for sometime.
e-commerce
Visa report tracks rise of India’s affluent, experience-led spending
Affluent base doubles to 130 lakh, travel 58 per cent of elite spends.
MUMBAI: In India’s new luxury playbook, it’s less about owning more and more about living better. A new whitepaper by Visa Consulting and Analytics (VCA) maps a decisive shift in India’s affluent economy, where spending is becoming more intentional, experience-led, and closely tied to personal identity rather than pure income growth.
Titled India’s Affluent Economy 2025–2026, the report draws on a Visa-commissioned Yougov study and VisaNet data across travel, dining, retail and lifestyle categories. The headline number is hard to miss: individuals earning over Rs 10 lakh annually have nearly doubled from 69 lakh to 130 lakh, significantly expanding the country’s discretionary spending base.
But it’s not just about scale, it’s about behaviour. As consumers move up the affluence ladder, discretionary categories are taking a larger share of credit card spends, positioning cards as key enablers of premium, lifestyle-driven consumption.
The geography of wealth is shifting too. Affluence is no longer confined to metros such as Mumbai, Delhi and Bengaluru, with cities like Ahmedabad, Surat, Jaipur and Lucknow increasingly mirroring metro consumption patterns.
The report highlights a clear pivot from ownership to access. More than 50 per cent of affluent consumers now use cards for elite memberships, while 7 in 10 are drawn to limited-edition drops and curated collections. Increasingly, luxury is defined by seamless access be it concierge-led travel or curated dining where time saved is as valuable as money spent.
Spending patterns reinforce this shift. Among the ultra-elite, travel accounts for 58 per cent of discretionary spends, far outpacing retail and luxury combined at 28 per cent. Cross-border spending penetration stands at 63 per cent, signalling a growing global outlook among India’s affluent.
Closer home, indulgence is becoming routine. Nearly 4 in 5 affluent consumers dine at premium establishments at least three times a year, while 1 in 4 visit luxury venues more than five times annually. Dining spends are also climbing, with Rs 20,000 emerging as a new entry-level benchmark per experience and Rs 50,000 marking premium territory.
Retail, meanwhile, is becoming more selective. Three in four affluent consumers make a high-end purchase at least once a quarter, while one in four shops premium every two weeks. Luxury retail intensity is also rising, with 2 in 5 consumers spending over Rs 5 lakh annually, and a smaller but significant segment exceeding Rs 10 lakh.
Technology and wellness are carving out new roles in this ecosystem. High-end gadgets now see average spends of Rs 60,000 or more per purchase, while ultra-elite consumers are eight times more likely to visit spas and show five times higher engagement with cosmetic stores than non-affluent groups.
The broader takeaway is structural. Affluent consumers are no longer buying products, they are buying ecosystems. Integrated experiences across travel, dining, wellness and payments are becoming central to how this segment lives and spends.
As India’s affluent base expands beyond metros and aligns more closely with global consumption patterns, the real opportunity lies not just in size, but in speed. For brands, the message is clear: relevance will be defined by how early and how seamlessly, they plug into this evolving lifestyle economy.
