The Canada Pension Plan Investment Board says it has invested US$800-million in the Flipkart Group, an online retailer in India.
The Flipkart Group includes Flipkart, Myntra, Flipkart Wholesale and Cleartrip.
The company was started in 2007 and has more than 350 million registered customers.
CPP Investments says it believes India will be a leading source of global growth in the decades ahead, supported by positive demographics, a growing middle class and deepening internet penetration.
CPP Investments is the independent investment manager for the Canada Pension Plan.
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