Flipkart, the poster boy of e-commerce in India, has grown by rapid strides in recent years. The Indian start-up, founded by Binny Bansal and Sachin Bansal, has taken on the mighty Amazon on the home turf. In more than one ways, the other start-ups look at the business model of Flipkart and try to replicate it.
Given the phenomenal success, the opinion of the Bansal brothers indeed carries weight. Speaking at the India Digital Summit held in the national capital, Sachin Bansal urged the government to provide a level playing field for domestic start-ups in the Internet market space.
“With anti or rather select globalisation, there should be level playing field for home grown startups in the internet space. In India, however we need to concentrate on the strategic sectors. Indian startups should not be killed by giants from US or China,” averred Bansal.
The co-founder of Flipkart opined that in future, the present era of globalization will give way to anti-globalization or selective globalization. By 2020, artificial intelligence will rule the roost in most facets of business, he added.
Flipkart has grown phenomenally since its humble beginning in 2007. Initially, Flipkart sold books online. As on date, the ecommerce marketplace has 80 million products in more than 80 product categories. It procures products from 100 thousand sellers and sells them to more than 100 million registered users.
Bansal admitted that Flipkart has had its share of failures. The e-tailer attempted to diversify in some categories which did not take off well. The failures have not deterred the company as it intends to launch them again.