NEW DELHI: As long as it gets a good deal, capital invariably flows past borders without let or hindrance — or bestowing upon the recipient the nationality of its origin. That seems to be Flipkart ’s clinching argument in establishing its ‘Indian’ identity, regardless of the multiple funding rounds that raised huge cash overseas, diluting local ownership.The Indian shareholding may have fallen further after eBay, Tencent, and Microsoft recently injected $1.4 billion into the web marketplace, but Flipkart says it is as local as the other mascots of home-grown globalisation — Infosys ICICI Bank , HDFC Bank, or Airtel Flipkart’s latest public statement on its identity comes just months after its co-founder Sachin Bansal and Ola cab-hailing founder Bhavish Aggarwal ratcheted up the thorny issue of level playing fields for local companies pitted against multinational rivals.Aggarwal, whose company is funded by SoftBank, Tiger Global, DST Global, Steadview Capital and Matrix Partners India, also accused global icons (such as Amazon and Uber) of dumping capital in India to acquire customers, and grab market share.“Flipkart is as home grown and Indian as an Infosys, HDFC or ICICI, which also have significant foreign capital invested in them,” the company said, when asked if their observations are misplaced.Before the latest funding round, Sachin Bansal and the other co-founder Binny Bansal owned 7% each in Flipkart. It is unclear what percentage the duo own after the latest infusion of capital into the company.Flipkart did not respond to a query seeking information on the shareholding in the company. In the high stake game of India’s rapidly expanding — but consolidating — e-commerce business, Flipkart and Amazon appear to be in a photo-finish, two-pony race for leadership. Both are ploughing billions of dollars into their businesses: Amazon has pledged to invest $5 billion, with the Seattle-based company counting India as one of its biggest potential markets. Simultaneously, Flipkart’s opposition is becoming more pronounced as Amazon is said to be getting within a striking distance to challenge Flipkart’s su-premacy in India’s Web marketplace.“Flipkart is a home-grown tech company, with each line of its code and its various innovations, created here in India. Flipkart’s impact, therefore, transcends far beyond the e-commerce market it helped create, and the shift in consumer behaviour it brought about,” the company’s statement said.“Thousands of entrepreneurs, for example, have been inspired by Flipkart to start companies that continuously innovate to make people’s lives better.” Amazon did not respond to an e-mail seeking comments on the allegations of capital dumping into India. However, in an interview with ET on 19th March, Amit Agarwal, country head of Amazon in India, said his company is unfazed by the allegations.“We are so customer obsessed that we don’t pay attention to all the noise around and change our viewpoint every year on what our vision and mission is,” he said.“We have the opportunity to build great Internet companies from India, but we need to create a fair playing field. If we are able to create that level playing field, Indian companies will have significant advantages,”Bansal, executive chairman of Flipkart, said in late March during the Economic Times Global Business Summit event. Bansal did not elaborate on the level playing field he sought, and Flipkart did not respond on the specifics of his wish-list.