Coupang says he has no plans to enter India
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Coupang does not plan to enter the Indian market, the company said, refuting a local media report that the South Korean e-commerce firm had expressed interest in entering the South Asian nation.
“Coupang has no plans to enter the Indian market,” a company spokesperson told TechCrunch in a statement.
India is one of the fastest growing e-commerce markets and it is estimated that worth $150 billion in three to four yearsaccording to wealth research and management firm Bernstein.
Indian conglomerate Reliance is poised to overtake incumbents Amazon and Walmart-backed Flipkart in the race for the country’s e-commerce market, Bernstein projected in a scathing report to customers this month.
Coupang, South Korea’s largest online marketplace, has expanded to Japan and Taiwan in recent years.
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