Flipkart Holds Biggest Slice Of India's Online Retail Market, Study Shows

Flipkart accounts for 44 percent of India's online retail market, according a report by Morgan Stanley. Data from the market research firm revealed Snapdeal holds 32 percent of the market, while US-based Amazon, which first came to India in 2013, is third at 15 percent. According to Morgan Stanley, other e-commerce firms account for the remaining 9 percent of the market. Also, data revealed that the fashion segment makes up 30 percent of the e-commerce market. Flipkart expanded its fashion business by acquiring Myntra in a $300 million deal in May 2014. Seeking to close the gap with Flipkart, Snapdeal plans to spend about $1 billion to acquire at least six fashion companies.