“We plan to relaunch
eBay India with a differentiated offer to focus initially on the cross-border trade opportunity, which we believe is significant,” the company noted in its statement. “We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market.”
The announcement is not too surprising. India represents massive potential: the populous country is the second-biggest economy in Asia, and one of the fastest-growing globally, with a digitally-savvy population (35 percent of all Indians use the Internet, making it the second-biggest market in the world). In that regard, it would have been a surprise, and possibly a foolish choice, to retreat from India completely in the wake of Walmart’s acquisition.
