Scaling up in e-commerce a bigger challenge, say entrepreneurs

However, they are optimistic that sector will grow to $40-50 bn in next 6-7 years

Entering the e-commerce industry in India is not a challenging task but it is the scaling up in this sector which is a bigger hurdle, said founders of e-commerce portals.

They were speaking at the IIT-Bombay Entrepreneurship Summit here in Mumbai.

"There is enough room for e-commerce entrepreneurship to grow in India and I see it grow to $40-50 billion in the next 6 to 7 years," Rohit Bansal, co-founder and COO of Snapdeal.com said.

India e-commerce market is currently of $3 billion.

Though India is a young e-commerce market, Sachin Bansal, founder and CEO of Flipkart.com sees no funding hurdle for entrepreneurship in this segment.

Regarding the next level of growth in e-commerce, Sachin Bansal said that in the next 2-3 years, e-commerce companies will undergo transition to become mobile-commerce companies.

Speaking about change in strategy of e-commerce companies, Mukesh Bansal, co-founder and CEO of Myntra.com said,"e-commerce is a lot about discovery and serendipity. The key is to keep learning about the market and experimenting with the model."