Walmart has announced plans to create an e-commerce marketplace for India, to expand its retail presence in the country.
The American retailer has revealed that to effectively tap in to the country’s e-commerce industry, the market place will have a similar model to that of Amazon and eBay.
Walmart has a team of around 16 people already working on the business model for the online marketplace, led by Walmart India’s COO Arvind Madiratta and VP for operations Steve Rodrigues. The site is expected to go live this summer, but Walmart has yet to reveal what it will be called.
The world biggest retailer has been urging the Indian government to allow international retailers to sell their products in India, as legislation does not currently allow this.
This marketplace will allow residents to use the site as a platform for selling their wares and means that Walmart will be well-placed in the market should the regulations change.
The retailer has said that it intends to use a ‘cleaner and ‘safer’ method as its e-commerce business plan in India, thinkdigit.com reports.
A Walmart India spokesperson told economictimes.indiatines.com that: “Our experiences worldwide support the fact that ecommerce is an important and growing area that meets our customers’ shopping needs. Toward this, we encourage the government of India to consider opening ecommerce for FDI.”