There is no dearth of local e-commerce businesses in India, and almost everyday we get to hear about a new startup being launched in the e-commerce space. India’s booming online shopping space is now attracting global retailers as well. Amazon launched its online shopping portal Junglee.com recently, and now we hear that Walmart is looking out for similar opportunities in India.
A recent report from the Business Standard claims that American retail giant Walmart is in talks with some of the leading e-commerce companies in India for partnership possibilities. Walmart, is currently working towards boosting its e-commerce operations in the US and other international markets by acquisitions and other means.
Saloni Nangia, president of Technopak, a retail consultancy, told that the growth potential of e-commerce in India is huge with factors such as dearth of real estate, the average Indian consumer becoming time-deficient, exponential growth in internet connectivity, smart phones and tablets, boosting this growth.
“As modern retail is still a very small share of the market and India is a growing economy, a multi-channel presence will help build a stronger presence in the market,” she said.
Walmart has a 50:50 joint venture with Bharti Enterprises for operating wholesale stores in India. It has 17 wholesale stores in India currently and is looking to further expand its presence by opening at least 15 more stores under the Bharti-Walmart JV.