Business

India's Snapdeal to invest in logistics to speed up delivery

Mumbai, Dec 29: Indian online marketplace Snapdeal, backed by Japan's SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon's Indian unit, its co-founder said on Monday.

Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and e-commerce firms are struggling to cope with the growing demand and make faster deliveries in different parts of the country.

The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, up from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report.

Flush with $500 million from a funding round in August, led by China's Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its services.

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