Amazon is reportedly in exploratory talks with Mukesh Ambani's Reliance Industries to buy up to 26% stake in India's biggest brick-and-mortar retailer Reliance Retail. Reliance was previously in talks with Alibaba to sell a stake in Reliance Retail, but a deal could not be finalised due to differences in valuation, reports said. Reliance Retail's first-quarter revenue stood at ₹38,196 crore.