According to two sources present at a townhall meeting with employees on Wednesday, founders Sachin Bansal and Binny Bansal said Flipkart aimed to increase Gross Merchandise Values (GMV), or the value of the goods sold on its site, to USD 8 billion.

That compares to USD 4 billion it is clocking currently. GMV is calculated on monthly average sales.

Industry sources estimate Snapdeal and Amazon's India arm currently notch up gross merchandising values of around USD 3 billion and USD 1 billion respectively.

Latest News  from Business News Desk