India can see $100bn worth e-comm co in 10-20 yrs: Snapdeal

Rohit Bansal, chief executive officer, Snapdeal.com says the Alibaba IPO validates the belief in emerging markets and the fact that online retailers don't need to own inventory to be successful.

Alibaba IPO that began trading on the New York Stock Exchange (NYSE) on Friday saw a stellar opening . The stock opened trade at USD 92.70 per share and rallied upto 38 percent in a single day.

The e-commerce company's  strong trading took many by surprise, but is also the reason for Indian online retailers' cheer.

Rohit Bansal, chief executive officer, Snapdeal.com says this IPO validates the belief in emerging market and the fact that online retailers don't need to own inventory to be successful.

Also Read: Alibaba in talks with Snapdeal to enter India: Report

"The response to Alibaba IPO gives confidence to company like ours, but the conventional way of valuations may not work for e-commerce sites as their growth is more than 50 percent at a time when other companies report below 15-20 percent growth," adds Bansal.

Adding to Bansal's optimism is Henry Guo, senior research analyst, JG Capital who says such companies have huge potential as India continues to see mobile penetration in widespread areas.

Also Read: Why e-commerce is taking India by a storm

This potential, Bansal expects, is to the tune of a USD 60-70 billion Indian e-commerce market.

"There is no reason to believe that in 10-20 years e-commerce in India will be anything less than 10 percent of retail. By that time retail in itself will be a trillion dollar market. So there is absolutely a 100 percent possibility of creating a USD 100 billion e-commerce company out of India," he further adds.

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