Business Standard

Monday, December 23, 2024 | 11:55 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Scaling up in e-commerce a bigger challenge, say entrepreneurs

However, they are optimistic that sector will grow to $40-50 bn in next 6-7 years

Aditi DivekarM Saraswathy Mumbai
Entering the e-commerce industry in India is not a challenging task but it is the scaling up in this sector which is a bigger hurdle, said founders of e-commerce portals.

They were speaking at the IIT-Bombay Entrepreneurship Summit here in Mumbai.

"There is enough room for e-commerce entrepreneurship to grow in India and I see it grow to $40-50 billion in the next 6 to 7 years," Rohit Bansal, co-founder and COO of Snapdeal.com said.

India e-commerce market is currently of $3 billion.

Though India is a young e-commerce market, Sachin Bansal, founder and CEO of Flipkart.com sees no funding hurdle for entrepreneurship in this segment.
 

Regarding the next level of growth in e-commerce, Sachin Bansal said that in the next 2-3 years, e-commerce companies will undergo transition to become mobile-commerce companies.

Speaking about change in strategy of e-commerce companies, Mukesh Bansal, co-founder and CEO of Myntra.com said,"e-commerce is a lot about discovery and serendipity. The key is to keep learning about the market and experimenting with the model."
 
 
 
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 01 2014 | 7:05 PM IST

Explore News