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

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.

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.

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 stated that the deal includes an investment in Flipkart Pvt Ltd and an arrangement between an affiliate of Alphabet and Flipkart's subsidiary for specific service provisions.

In May, Google became a minority investor in Flipkart's extended funding round, joining Walmart in providing $350 million. This investment brought the domestic marketplace's total funding to $950 million,

The Competition Commission on Tuesday granted approval to Alphabet's arm Shoreline International Holdings LLC to acquire a stake in Walmart group firm Flipkart.