Pennyful Online’s reaction on FDI in ecommerce
Quote from Mr. Ravitej Yadalam, CEO and Founder of Pennyful Online Pvt. Ltd on FDI in ecommerce:
There are obviously two ways to look at the entire FDI scenario. From an industry perspective, it will be very good if the current government takes a positive stand on FDI in Indian ecommerce. It will give way for International companies to enter into India which could also mean better products, or better services. What is certain is that it will add a big element to the competitive ecommerce landscape. And since competition is driving the market, FDI will be very good for the industry. This is because of the fact that consumer behavior is what is shaping market movements and having International players come in will give consumers more choice and flexibility.
Looking from another perspective, local home grown ecommerce players might not see FDI as such a good thing. We have already seen that Flipkart is not in favor of FDI and I believe that this will be a similar sentiment among local players. But at the end of the day, as I mentioned above, this is a customer-centric market and the industry has to move in a direction which best suits the end consumer.
