Despite rising costs due to a challenging economic outlook, Walmart will invest $2.5B in India's e-commerce and payments sector.   India is the second-largest internet market in the world. In comparison, Amazon has invested $9B in the country over the last 10 years. Walmart's strategy focuses on investing and partnering with local players. They have invested in Phone Pe, a payment provider that processes 40% of all payments Indians conduct in the most popular payment network, UPI. Amazon, on the other hand, has focused on streamlining its business operations. The retailer shut down food delivery, wholesale distribution, and online learning services to only invest and focus on its core e-commerce business.