Sachin Bansal, the Executive Chairman of Indian eCommerce giant Flipkart, spoke at the Global Mobile Internet Conference in Bangalore and gave his first comments on the Narendra Modi-led demonetization drive.
Addressing a bunch of young entrepreneurs, Bansal said that the intent behind demonetization is good but the government should have done more research for execution & should have roped in more experts.
Talking about the advantages, Bansal said online payments will become a game changer now owing to demonetization.
“People will further understand the value of online payments, said Bansal.
Flipkart, India's unicorn stature eCommerce pioneer is continuously waging a battle against U.S. arch-rival Amazon.
When asked about its competitors Alibaba and Amazon, Bansal said that he was not afraid of these two companies.
Bansal sounded confident in saying the e-commerce industry in India is growing and it will acquire profits in triple digits gradually.