E-commerce industry in India is fast growing and many entrepreneurs have started exploring the same. However, lack of insight and planning on their part has also resulted in many such new ventures being shut down after few years. Financing is another problem that is forcing many e-commerce entrepreneurs to shut their shops in India. Besides, regulatory requirements are also there that very few e-commerce entrepreneurs are able to meet.
Nevertheless, the e-commerce segment of India is very remunerative and big players are trying their level best to get the biggest share of the same. Foreign e-commerce players have also shown great interest in Indian e-commerce market. According to media reports, Japanese online retailer Rakuten Incorporation may enter India in the next six to eight months, and is seeking a strategic alliance to tap rapid growth in the country’s Rs. 62,000 crore e-commerce market.
To start with, Rakuten is exploring the possibility of starting a travel and hospitality portal in India. It is also actively exploring getting into back-end solutions such as logistics, through an acquisition.
Rakuten has various businesses such as e-retail, travel and financial services (payment solutions). Its 100% subsidiary Rakuten Travel operates an online hotel reservation website with over 1.8 million room nights booked per month. The firm has access to more than 20,000 domestic and 15,000 international hotels and has a presence in South Korea and China.