E-commerce consolidation to give way to mature growth in sector

In 2015, Indian firms raised $9 bn through venture capital funds

With the decks having been cleared for the sale of Snapdeal to Flipkart, India’s e-commerce industry might look like a two-horse race, but a third rider will emerge as China’s Alibaba raises its game in the country.

But with all three players — Flipkart, Amazon, and Alibaba — now having access to long-term capital, the days of burning money to buy customers seem to be over. Instead, the next chapter of India’s e-commerce war will be like a game of chess with all players looking at long-term growth.

“Consolidation was bound to happen because the game was so shallow and you needed