According to a report from Business Standard , American retail giant Walmart is actively exploring the online space in India. Walmart the world’s largest retail company, with global revenue of $400 billion, currently has a 50:50 joint venture with Bharti Enterprises for operating cash and carry (wholesale) stores.
e commerce has a very strong potential in India with its rising number of internet users, exponential growth in internet connectivity, smart phones and tablets . In the recent years there’s been a significant growth in the Indian e-commerce space. According to a recent report, the e-Commerce market in India was estimated to be at Rs 46,520 crore in 2011 compared with Rs 8,146 crore in 2007. With Amazon in the Indian online retail segment through jungle.com, Walmart already has a tough competitor.
At present online retail comprises of only 0.1% of the total annual retail business in India. With the recent acquisitions where flipkart took over letsbuy.com, snapdeal acquired esportsbuy.com, the Indian e commerce space looks quite promising isn’t it ?