• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kolkata, Oct. 13 mjunction services Ltd, a 50:50 e-commerce joint venture of Tata Steel and SAIL, today launched retail shopping portal straightline.in.

The portal will cater to almost all segments in the non-travel e-shopping market.

According to Mr Viresh Oberoi, Managing Director and CEO, the non-travel retail e-commerce market in the country is currently estimated to be worth Rs 2,200 crore and is growing at the rate of 40 per cent a year. According to him, last year electronic retail clocked around Rs 6,70,000 crore in the US and Rs 3,30,000 crore in the UK.

“E-commerce is at a very nascent stage in India and that gives us the space to grow faster,” Mr Oberoi said. According to industry estimates, Internet penetration in India is likely to increase from 8.6 persons per 1,000 population to 60 persons by 2011.

mjunction, which sells steel and coal mainly through online transactions, clocked a transaction value of Rs 14,393 crore in 2008-09.

More Stories on : E-Commerce & E-Business | Online Marketing | New Products & Services | Tata Steel Ltd | Steel Authority of India Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line