Tata group closing to the launch of e-commerce unit
Mumbai, India | Red Newswire | Dec 12, 2015 Last Updated at 01:23 PM IST.
The largest conglomerate of the country – the Tata Group is quite near to entering the e-commerce market by launching its own e-commerce unit. The e-commerce is expected to show a 20-fold increase in the coming decade.
Tata is recruiting many other units to offer their products for sale on the platform and is said to be in the final phase of preparations. One of the people familiar with the matter said that the platform might be launching in coming few weeks. However, another person said that the deadline is March 2016.
The Tata Industries Ltd of the Tata Group is handling this segment. The group also announced that it will launch big data business, consumer analytics and digital health, it never mentioned when. One of the people close to the matter said that the Tata’s e-com platform “uniStore” will have over 100 brands.
Amazon and Flipkart currently dominate the e-commerce industry in India and according to the estimates from Bank of America Merril Lynch, by 2025 merchandise worth $220 billion will be sold compared to $11 billion of this year.
These prospects sure look promising and so have been attracting local tycoons as well as global investors including DST of Yuri Milner, Softbank Corp. and so on.
In the coming years we might also see Reliance Industries in e-com market.