The Indian conglomerate Reliance is poised to outpace Amazon and Walmart-backed Flipkart in the race for the country\u2019s $150 billion e-commerce market,\u00a0analysts at Bernstein projected in a scathing report to clients this week, challenging the prevailing industry views that favor the incumbent global powerhouses.<\/p>\n

Bernstein\u2019s projection hinges on a quartet of compelling advantages that they argue will propel Reliance to the top: a robust retail network, a sweeping mobile network, a holistic digital ecosystem, and a \u201chome field advantage\u201d in a notoriously challenging regulatory landscape. These factors should help Reliance\u00a0seize the majority of the massive e-commerce market in the longer run, the wealth management firm said.<\/p>\n