Rakuten opens business unit in India, as ecommerce market keeps expanding

Thursday 26 June 2014 00:12 CET | News

Rakuten, a Japanese internet services provider, has opened a global unit dubbed Rakuten India Development and Operations Center (RIDOC) in India.

The ecommerce market in India hit USD 16 billion in consumer spending in 2013. Indian commerce group ASSOCHAM predicts it could hit USD 56 billion in India by 2023.

Currently, only 9% of Indians with an internet connection shop online, compared to over 30% in other BRICS countries. India’s ecommerce market is still 60 times smaller than China’s, which indicates its huge growth potential.

The current number of online shoppers in India will double to 40 million by 2016, says an ecommerce report by Accel Partners.

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Keywords: Rakuten, India, ecommerce, business unit, Rakuten India Development and Operations Center, RIDOC
Categories: Payments & Commerce
Countries: World
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