In last one decade India has become the centre of attraction for many companies belonging to diverse industries. It has already emerged as one of the strongest software development hub and has leapfrogged many of the renowned global companies in various arms of technology arenas like social media, mobile and e-commerce. Taking the view of growth in Indian Territory, online e-commerce giant “Amazon” has debuted in India as Junglee.com
The pages of Junglee.com is still under operation, but we can expect that in next few weeks it might come into action as it is still under developmental stage. Company is solidifying its platform in Indian market by partnering with various Indian e-commerce ventures. It’s only facing difficulty in transaction aspects of operations which is under the moderation process.
Amazon is still not allowed to establish a front end multi-brand store in India as the law permits only one brand retail operation under FDI (foreign direct investment).
Interestingly, Amazon.com acquired Junglee Corp back in 2008. It’s a company established in Sunnyvale and provides database technology to help consumers to find products on the internet.
Junglee is mainly a Hindi word which literally translates as “wild” or a person having no qualities. It was established in 1996 by five persons, out of whom one was a grad from IIT-Kanpur.
Amazon entering Indian online market will definitely affect the market of other online shopping companies as it is one of the leading online shopping portal all across the world.
Although, eBay has already ventured in Indian market few years back with the acquisition of Baazee.com, the penetration of internet and explosive growth make a perfect scenario for amazon to venture. However, the launch of of Amazon will directly affect the market of many other Indian online shopping portals like Talash.com, Myntra.com, Inkfruit.com etc. But the biggest competition and damages will be done to Flipcart that has replica business model of Amazon in India currently.
whatever would be the scenario, it would be interesting to see the settle down of Amazon countering Flipcart – especially when Flipcart is well-versed with Indian scenario and doing pretty decent business – and the service too – just by implementing the original idea of Amazon.