Flipkart, owned by Walmart, has come up with an exciting announcement. The e-commerce giant has announced that it is going to launch a free video streaming service very soon.

The free video streaming service would be available to those consumers who have subscribed to the Flipkart Plus loyalty program. "The plan is to make it a reality well ahead of the Diwali shopping season," a report says.

To be named as Flipkart Videos, the service will present free and curated videos. Personalized videos will be the other major feature. "The consumers can watch movies, shows and entertainment series literally for free," a report quotes the company as saying.

The goal is to trump Amazon, which owns Prime. The ultimate aim is to reach out to about 20 crore future Internet users in the country who would be attracted to do shopping via Flipkart when they use free videos.