Amazon.com (NASDAQ: AMZN) is trying to block rival Reliance Industries from acquiring the retail assets of India's Future Group for $3.4 billion. Reuters reports the e-commerce giant is asking an Indian court to intervene in the case after the sale got approval from the country's market regulators and stock exchanges. Image source: Getty Images. The future of global retail growth Amazon and Reliance Industries are competing to establish positions in Future Retail, India's second-largest retailer. The former invested over $100 million into Future Coupons, a gift card, loyalty card, and rewards card business for corporations that Future Retail owns. Reliance and Future agreed to the asset sale in August of last year. To block the deal, Amazon is asking the court to uphold a Singapore arbitration ruling that the asset sale should be put on hold. The e-commerce site contends both sides had agreed to use arbitrators in case of disputes, and says Future violated pre-existing clauses it had by entering into the sale with Reliance. Because India is seen as key to global growth initiatives, Amazon was also in negotiation with Reliance to acquire a 40% stake in Reliance Retail for $20 billion. Reliance Retail runs supermarkets, various retail chains, and an online grocery store called JioMart, which both Alphabet and Facebook have invested in. Last week Reliance agreed to embed JioMart into Facebook's WhatsApp messaging app to allow users to shop online without ever having to leave the app, which is reportedly the most popular messaging app in India. Find out why Amazon is one of the 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* Tom and David just revealed their ten top stock picks for investors to buy right now. Amazon is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of November 20, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, and Facebook and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool has a disclosure policy.Source