According to recent reports, Amazon India is currently worth $16 billion and has the same 30% market share as local competitor Flipkart. India has a $2.6 trillion GDP growing at 6-7% annually.
Recently accepting a $16 billion investment from Walmart for a 77% share of the company, Flipkart wasn’t able to outnumber Amazon India as both the companies have a market share of 30%. Reportedly, after disappointing results in China, Amazon has been determined to win in India. Reports also claim that India is poised to be one of the largest and fastest e-commerce growth markets for the next decade.
Amazon India is valued at $16 billion while Flipkart is much higher at $20-$22 billion after the mega Walmart acquisition. A Citi research note added that India’s e-commerce market will grow at 21% CAGR over the next 10 years to $202 billion with Amazon possibly capturing 35% of this market. It claims that the company could generate more than $10 billion in revenue and nearly $1.5 billion in FCF (free cash flow) by 2027.
Jeff Bezos’ Amazon India is aggressively catching up with the top e-commerce giants, Flipkart and Myntra. Jeff plans on not repeating the s
ame mistakes they made with China, and sets strong strategies to grow with extreme positive steps in India. He also stated that Amazon.in is the fastest growing marketplace in India and the most visited site on both electronics. He also mentioned that Prime added more members in India in its first year than any previous geography in Amazon’s history. Incidentally, 13 years post-launch, Prime members globally now exceed 100 million.
Among the hustle and bustle of e-commerce platforms, PayTM has silently entered the market with great growth models, competing head to head.