Tata Group soon to come up with its eCommerce portal

Tata Group is all set to come up with its eCommerce portal soon with an intention to tap the online shopping space which is expected to grow 20 folds over the next 10 years.
Tata Group

One of country’s largest business houses, Tata Group is all set to come up with its eCommerce portal soon with an intention to tap the online shopping space which is expected to grow 20 folds over the next 10 years.
Betting big on the digital space, the group plans to launch its online retailing marketplace within a couple of weeks and the deadline to operation is March, 2016. The company will rope in products from its other business units on the eCommerce portal.
Tata UniStore Ltd's online portal will offer over 100 brand stores, the group said in a statement. Many other top domestic companies have also announced plans to foray into the e-commerce market.
Recently, Mukesh Ambani-led Reliance Industries Ltd (RIL) had said that it would roll out its online retailing platforms for fashion and electronic devices by the end of this year.
On the other hand, Aditya Birla Group has already launched its online retailing platform for fashion on 16 October. The portal offers brands of Aditya Birla Group and other companies.
As per a report by research firm Goldman Sachs, India is expected to become the second-largest digital market globally by 2030, with China in the first place.
Country's e-commerce market is poised to grow 15 times to $300 billion by then, occupying 2.5% of the gross domestic product (GDP).
According to CB Insights, during the March to June period this year, investors have pumped in $2.33 billion in Indian startups, as against $844 million during the same period last year.
The number of Internet users in India is projected to grow to 402 million by the end of 2015, up 50% compared to last year, according to the Internet and Mobile Association of India (IAMAI) and IMRB.
With such huge surge in the growth of Internet users across the country, many big/small domestic retailers have been forced to revamp their business models at par with the mushrooming potential of the digital horizon.

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