According to the report, Amazon is currently in discussion with various homegrown e-commerce players like Flipkart.com, LetsBuy.com and Exclusively.in, although it plans to set up its own operations in India. This follows failed acquisition talks with several e-commerce firms in India, unlike EBay which entered the Indian market in 2004 by acquiring Baazee.com.
With the online retail industry pegged to reach $1.5 billion mark by 2015, sources suggest that Indian companies are currently seeing huge potential in the e-commerce segment and thereby resisting any acquisition offers they receive.
The report further suggests that Amazon is currently working on building a team of 200+ people across tech and non-tech divisions, which will be headed by Madhu M, a former Landmark Retail executive and the current SVM at Amazon.com.
Amazon will also be establishing a warehouse in India’s financial capital, Mumbai with offices spread across Hyderabad, Bangalore and Chennai, where Amazon has reportedly bought an 80,000 sq ft plot.