Flipkart CEO on why he is not worried about Mukesh Ambani’s online shopping plans
MUMBAI | BENGALURU: Walmart-owned Flipkart said the imminent entry of a third player — Reliance Industries — is not a worry as it would expand the market further and benefit all its stakeholders. Flipkart’s group CEO Kalyan Krishnamurthy said in an exclusive interview to ET — his first since tightened FDI rules for the sector came into effect in February — that the online retail market in India is thinly penetrated and quite a few problems would need solving to make it sizeable.
“We believe if more players operate in this space, it will further expand the market and benefit all the stakeholders, like kirana stores, small and medium-sized merchants and consumers who will gain from innovation in the sector,” he said.