US online retail giant Amazon.com has made its first foray into India with launch of a shopping website, Junglee.com, as it tests the waters for a possible full entry into the nation's e-commerce market.
India's e-commerce business is set to boom as incomes and consumer demand climb in a country of 1.2 billion people with a steadily ballooning middle class, analysts say.
Junglee, which means "wild" in Hindi, is a modified version of the world's top online retailers shopping portal,allowing customers to search for different products and compare prices.
Some of Amazon's biggest competition in India will come from e-commerce portal ebay.com and Flipkart.com. Flipcart.com set up in 2007 by two ex-Amazon employees and based in the southern city of Bangalore, that sells a range of goods from books to television sets, analysts say.As an Indian company Flipkart is exempt from the restrictions that prevent Amazon launching a full-service site.
Technopak forecasts the e-commerce market, which includes travel and financial services, will grow to $200 billion by 2020 from $10 billion in 2011.
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