India’s Flipkart to double value of goods sold as demand surges

By Nivedita Bhattacharjee MUMBAI (Reuters) – Flipkart aims to double the total value of goods it sells to $8 billion this year, two people with knowledge of the plans said, as India’s largest online marketplace seeks to widen the gap with rivals including Amazon.com’s India unit. Online retailers often use GMV, or gross merchandise value based on monthly online sales, as a measure of performance, as they typically make revenues from the commissions they get from sellers. Flipkart’s current GMV is $4 billion, the sources said, declining to be named as they were not authorized to speak to the media

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India’s Flipkart to double value of goods sold as demand surges