American multinational retail corporation Walmart is planning to enter the Indian market taking the e-commerce route. Walmart is said to be working on an electronic marketplace model similar to those of Amazon and eBay Inc.
The Economic Times reported that a team of 15-17 people under Walmart India's COO Arvind Mediratta and including VP for operations in the India office, Steve Rodrigues, is working on developing the yet to be named e-commerce platform, expected to go live in the coming three to four months.
These reports come after the retail giant put its plans of opening stores in India, last year, on the back burner. In the beginning, this marketplace by Walmart is expected to serve wholesale consumers by March end.
A person with direct knowledge of the matter told the publication, "The project has been on for seven to eight months and has gathered pace in the past four to five months. It will be the Amazon and eBay business model."
In the past, both Walmart and Amazon have requested the Indian government to allow FDI in e-commerce.
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