Flipkart plans to treble GMV to $17.6 billion by 2020-2021

By

Isabelle Crossley

Published
Jul 3, 2018

Flipkart’s latest projections, predict that the business will treble its gross merchandise value (GMV) to $17.6 billion (Rs 117,088 crore) by 2020-2021, sources said.

Sources close to Flipkart’s most recent three year outlook have disclosed to the ET that the business predicts a trebling of its GMV during this time. Flipkart has also recently announced that it will be shifting more and more focus on to fashion and sees India’s garment retail market as one in which it will experience a lot of growth. If the Walmart acquisition deal goes through then the business’ international network is also expected to benefit Flipkart’s growth.

Flipkart reported a 51 percent increase in its GMV over the course of the 2017/2018 financial year when it reached $6.2 billion. This result was a turnaround from the 2016/2017 financial year when GMV was only increasing by 11 percent due to an overall slump in the Indian e-commerce market.

Analysts expect that the Indian e-commerce market will grow at a compound annual growth rate (CAGR) of around 30 percent for the next five years. Amazon India also expects similar growth over the same time period and so it appears that a victor will not emerge out of the two business’ battle for domination of the Indian online market for some time.