New Delhi (CNN Business) The world's richest man may be looking to strike a deal with India's top billionaire to grab a bigger slice of the country's enormous retail market.

Amazon AMZN Jeff Bezos'is in talks to invest in Reliance Retail, India's biggest retailer owned by billionaire Mukesh Ambani, the Economic Times newspaper and Reuters reported late last week. The American giant could be looking to buy up to 26% of the company, sources told the two publications.

"We do not comment on media speculation and rumors. Our company evaluates various opportunities on an ongoing basis," a Reliance spokesperson told CNN Business. "We have made and will continue to make necessary disclosures in compliance with our obligations," the spokesperson added.

A spokesperson for Amazon in India declined to comment.

Reliance Retail has nearly 11,000 stores across India and sells everything from smartphones to groceries. A partnership would give Amazon a stronger brick-and-mortar presence in a country where it has committed more than $5 billion to growing its business.