INDIA’S largest e-commerce company, Flipkart, is aiming to launch its first in India this month, as it seeks to expand into emerging markets.
The company’s CEO Sachin Bansal said that Flipkarns aim to launch the company in three to five Indian cities, a strategy that would allow it to build a global presence in India’s burgeoning e-tailer market.
“We have been working on India for the last three years.
Flipkarna has made a lot of progress in the last two years and we have a good chance to launch in India,” Bansal told Reuters news agency on Wednesday.
“Our vision is to grow into India in three or five years,” he said.
India’s largest ecommerce company Flipkara has built up its business in emerging markets, from Bengaluru to Hyderabad, by expanding its reach to other emerging markets and offering its own digital wallet.
India, with a population of about 18.4 million, is the biggest e-sales market in the world and a major source of growth for the countrys largest online retailer.
Flipkart said in January that it had received over 6 billion rupees ($8.6 billion) in investments, bringing its total investments in India to more than $60 billion.
The US company plans to invest $1 billion in India in order to scale up its operations, Bansal added.
“We have a plan to expand in India over the next six months,” he added.
Flipper is already operating in a number of emerging markets like Nepal, Nepal and Bangladesh.
In Nepal, it has launched its Flipwallet app in February and plans to expand to the rest of the country in the coming months.
In October, the company said that it was planning to start selling products in some emerging markets in 2018.