E-Commerce in India

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Sachin Bansal and Binny Bansal, 2 former employees of amazon.com have been doing very well in India, they have created Flipkart and started selling books in India after leaving amazon.com. People at that time thought they were crazy but now their business has grown and they are receiving investments from every corner of the world. It did not start very well, in the early days, they had to transport the goods purchased on their own motorbikes and now they have expanded to around 5 warehouses around the region and more is to come for sure. Flipkart is now India's biggest online bookseller, with over 10 million titles distributed from warehouses in five cities. It has branched from books into mobile phones, appliances, gaming consoles, music and movies, and now sells 10 products a minute. It generated $11 million in sales last financial year,  expects revenues to cross $100 million this year and is aiming at $1 billion by 2015. The main reason he says why they succeed is the shipping cost when ordering from amazon.com. Then there is the Indian e-commerce market, which is expected to grow by 47 percent to more than 460 billion rupees ($10 billion) this year, according to the Internet and Mobile Association of India.

Source: http://www.cnbc.com

Image: garethjmsaunders
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