According to media reports, the Tata group is in talks with investors to sell stake in its upcoming digital platform. The Tata group is looking to make its way into the attractive Indian e-commerce market.
The launch of the group’s all-in-one app that would effectively serve as a one-stop shop for a wide range of its consumer products and services, will put it right in the middle of the brewing competition in the arena with Reliance Industries’ Chairman Mukesh Ambani and global e-commerce giants like Amazon and Walmart.
The Indian e-commerce market has grabbed the attention of many across the world, with the likes of social media giant Facebook and tech-giant Google entering the space to capitalise on what is being seen as a rather potent opportunity.
According to reports, India’s e-commerce market is set to grow faster than expected – at a compound annual growth rate (CAGR) of 19.6 percent. This would give the Indian e-commerce sector a market size of Rs 7 trillion by 2023.