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Hours after Amazon’s $2 bn investment announcement, Amit Agarwal, VP & country head, Amazon India, spoke to Outlook:
What targets are you setting for Amazon India?
We pale in comparison to the world’s largest selection of products at Amazon.com. Our selection of 17 million products is minuscule in comparison. But this is early days in India and we will scale up our product range, and improve product delivery.
Amazon has been pushing for FDI in e-retail in India.
We have always supported FDI and feel that it is good for the entire (retail) ecosystem. Today, there are millions of small and medium sellers who we could buy from but they may not want to sell directly from our platform. Today, in the absence of FDI, the selection of products is limited. With FDI, the number of products and choice will jump. With more sales it will give sellers more room to offer better prices to consumers.
Will the e-retail market in India get consolidated?
We must remember that these are very early days in the evolution of internet commerce. There is a large market and significant opportunity for new players. New models will also emerge.
Will the next phase of internet and e-retail growth happen through the mobile phone?
Mobile is an integral part of Indian life today and we get 30 per cent of our traffic from cellphones. What will be unique is many customers would access the net for the first time on mobiles.
Will Amazon India follow an organic or an acquisition-led path?
Our organic strategy is working beyond our expectations.