The Indian e-commerce industry is booming and almost everyone is trying to make their presence felt online. According to EconomicTimes, Infosys co-founder NR Narayana Murthy-led Catamaran Ventures is partnering with Amazon to launch a new e-commerce business, which will help offline sellers and small and medium business to come online. Also Read - Amazon Great Indian Festival sale date announced, Prime members get early accessAlso Read - Best smartphone deals on Amazon, Flipkart today: Xiaomi Mi 11X, Poco X3 Pro, Moto G40 Fusion, more
Both the companies are currently figuring out a way to do business around India s FDI in retail restrictions. According to the publication, one of the ways will be to form a joint venture for the back end operations, wherein Catamaran will control 51 percent of the stake. With the majority stakes, this company will be addressed as an Indian company and the subsidiary of this company will be the one handling the e-commerce business. Also Read - Amazon Mega Music Fest sale: Best deals on TWS earphones, headphones, soundbars and more
According to market analyst IAMAI, the e-commerce industry in India is booming and last year it clocked a 33 percent growth to reach Rs 63,967 crore. This boom has also had a positive effect on employment with a 30 percent growth in hiring expected this year. Flipkart alone is expected to hire 12,000 employees this year.