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#NAMA: Binny Bansal & Sundeep Malhotra On Building An E-Commerce Business In India

Speaking at a session at the #NAMA Conference, Flipkart co-founder & COO, Binny Bansal and HomeShop18 Founder & CEO Sundeep Malhotra spoke about building an e-commerce business in the country, effect of the recently announced FDI rules on their businesses and shopping trends in urban and rural areas. The session was moderated by Gautam Gandhi, of Google. Here are some notes from the session: - Effect of FDI on their business: Binny Bansal stated that nothing much has changed on the e-commerce segment with the new FDI rules while Sundeep Malhotra noted that the new FDI rules are good for physical retail chains since they require higher investment as compared to e-commerce retail. Nikhil Pahwa of MediaNama raised a question about the legality of e-commerce businesses operating by bypassing FDI regulations, but both avoided giving a straight answer, though they mentioned that they complied with regulations. - On Competitors: Bansal stated that the e-commerce market is very dynamic right now and that these are very early days to talk about competition in the e-commerce space. He also noted that the market will slowly evolve and different e-commerce models will start emerging in the next 6-8 years. Malhotra also stated that they are observing a lot of competition in the e-commerce space, which is good for the segment to evolve. - On popular products on e-commerce portals: Bansal stated that books are still the most popular product on Flipkart in terms of sheer number perspective, while mobile phones and laptops have surpassed books…

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