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The Japanese ecommerce giant Rakuten is rumoured to be about to enter the Indian market.
The company opened a development centre in India in 2014, prompting speculation that it may launch in the country in the future.
In recent weeks, it has opened a business office in the country and started hiring managers from ecommerce companies such as Amazon and Flipkart, sparking rumours that a launch may be imminent.
Rakuten is extremely popular in its home market of Japan, where it is the country’s most popular ecommerce site.
A spokesperson from the company described India as a “vibrant growth market” but refused to comment on if or when it would launch in the country.
The Indian ecommerce market is currently worth 11 billion US dollars and is growing rapidly, with online sales expected to reach 220 billion US dollars by 2025 according to estimates by Merrill Lynch.