Reliance-controlled JioMart, Walmart-owned Flipkart, Amazon and Tata Digital have the potential to be as large as Alibaba is in China.
E-commerce companies in India are scaling new heights. Currently, Indian citizens have a wide range e-commerce platforms available at their disposal and most of them are doing well in terms of business. Although e-commerce penetration in India is around 5-8%, it is still a massive sector in the country and as the smartphone adaptation in India is increasing, these companies are believed to go as large as Alibaba in China. CEO of BigBasket, Rs 26710 crore grocery delivery arm of Tata Digital, Hari Menon opened up about the potential of e-commerce companies in India during an industry event. As reported by Moneycontrol, he believed that Reliance-controlled JioMart, Walmart-owned Flipkart, Amazon and Tata Digital have the potential to be as large as Alibaba is in China.
For those who are unaware, Jack Ma founded Alibaba currently has a market capitalisation of over Rs 1585946 crore. To recall, it was once valued over Rs 5944800 crore during its peak in 2020. In comparison to that, companies like JioMart, Flipkart, Tata Digital still have the potential to grow massively. Flipkart was last valued at Rs 300464 crore.
“Flipkart has really scaled since its inception in 2007, it’s here to stay and it’s a company that will reach the levels that we’re talking about. Jio(Mart) is becoming large…that’s another company that will start scaling,” Menon said.
“Nykaa in beauty, BigBasket in groceries are the other companies which have the potential…the ecosystem (in India) is all set and ready for us (India) to accommodate large-scale,” he added.
Hari Menon also believes that vertical e-commerce companies that only cater to limited sectors, will be able to scale in India although they struggle to grow in countries like the US and China. He also believed that multiple big e-commerce players can co-exist in India like the US and China have Amazon, Alibaba, and eBay.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "JioMart, Flipkart")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}