Google has sought to join forces with Chinese e-commerce giant Alibaba-backed Paytm Mall, Indian online shopping app, to form a consortium and invest  3,500-4,000 crore rupees ($499.3-$570.6 million) for a 7-10 percent stake in Future Retail, a household and consumer products retailer.

The fund infusion will be through both primary and secondary share sale.

Future Retail expects to use the funds to streamline its operations and increase profitability.

Paytm Mall is already aiming for a near-threefold rise in annualized gross sales to $10 billion by March 2019.