South Korea’s e-commerce company, Coupang, is planning to make its presence in Indian market. The company has started dialogues with the Indian government to enter of the biggest e-commerce markets globally.
According to Indian govt officials, “We have received an application from the South Korean government, in which Coupang has expressed interest in entering India”. Also, they said that if it enters the Indian market, it might take over the Flipkart and Amazon.
India’s e-commerce sector is expected to grow to almost $150 billion in 2026 as compared to $83 billion in 2022 as per the FIS Global Payments Report, 2023.
The market share breakdown highlighted that Flipkart has USD 23 billion gross merchandise value, and Amazon has around USD $18 to 20 billion GMV. Therefore, both have almost 60% market share. Reliance is third in the category with USD 5.7 billion in value in e-commerce sales.
Coupang’s proposal has come after the year when it announced that it will be closing the e-commerce market in Japan.
Unlike Japan, the company is expecting to earn higher profits due to people mostly depending on the products delivery via an online medium in India. This is because it delivers it within 24 hours or on the same day, 365 days a year. This delivery time is also for the delivery of fresh food.
Further, Rocket Jikgu service offered by it lets users directly purchase overseas products within 3 days without any middleman. Additionally, it also provides multiple services like Coupang play, a video streaming platform. Therefore, providing endless opportunities to gain profits from Indian market.