In the past few years, India has experienced a rise in Information technology sector, where consumers seem to gradually accept the ecommerce sites for online shopping. With this the India’s market place will soon witness rule of ecommerce industry in a large scale.
According to Vijay Shekhar Sharma, Paytm founder and CEO, the five technology firms that are emerging will create a wealth of about Rs. 3 Lakh Crore ($50 billion) in India by appointing a group of experienced executives on their board, who have worked in such companies. As per the reports the companies to implement this strategy include Ola, Flipkart and Paytm. They are eyeing experts like Sundar Pichari – Google’s Senior Vice President, Indra Nooyi – PepsiCo Chief Executive and Gokul Rajaram – Square’s head of engineering.
One of the founder of these start-ups, on condition of anonymity said that investors are investing more money, expecting big exits and for a balanced advice they cannot trust someone in their management.
In the last month there have been many high profile appointments in Paytm and Ola with an aim of playing long-term, gaining deeper understanding of markets and be competent enough to face the ever growing competition.