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Flipkart, India’s leading e-commerce platform, has made the strategic decision to relocate its holding company from Singapore to India. This move underscores the company’s commitment to India’s growth and aligns with the government’s vision of creating a thriving business environment. A Flipkart spokesperson stated, “This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India’s strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey.”
The Rise Of Flipkart: From Bookstore To E-commerce Leader
Founded in 2007 by IIT graduates Sachin Bansal and Binny Bansal, Flipkart started as an offline bookstore. Over the years, it expanded and grew into India’s leading e-commerce platform, offering a wide range of products from electronics to fashion. In 2018, the company was acquired by Walmart for USD 16 billion, with a valuation close to USD 20 billion. Despite the acquisition, Flipkart has maintained its dominant position in the Indian e-commerce market.
A Natural Evolution For Flipkart
Flipkart’s relocation to India is seen as a natural evolution, aligning its holding structure with its core operations and India’s vast economic potential. The company’s statement reads, “This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy, and our technology and innovation-driven capabilities to foster digital transformation in India.” Flipkart’s presence in India includes over 100 million registered users, 100,000 sellers, and more than 21 warehouses across the country. It handles over 10 million page visits and 8 million shipments per month.
Enhancing Focus And Agility For Indian Customers
Flipkart is confident that its relocation will allow the company to be more agile and focused on serving Indian customers. The company added, “As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation’s growing digital economy and entrepreneurship. We are excited by the opportunities ahead and reaffirm our long-term confidence in India’s future.”
Flipkart Quick: Revolutionizing Delivery Services
In addition to the relocation, Flipkart has introduced Flipkart Quick, a hyperlocal 90-minute delivery service available in select cities. This service includes categories such as groceries, electronics, home accessories, and fresh produce. The online retail market in India is valued at USD 60 billion and is projected to grow to USD 200 billion by 2026.
(With Inputs From ANI)
