<p>2017 will be a defining year for Flipkart as the company is looking to take "decisive lead" in the Indian market, its co-founder Sachin Bansal has said.<br /><br />The company, which recently announced top-level changes, said the restructuring is aimed at "improving operational efficiencies".<br /><br />Earlier this week, in a major restructuring, Flipkart brought all its units under an umbrella firm and elevated Binny Bansal as the Group Chief Executive Officer. Kalyan <br />Krishnamurthy, previously head of Category Design Organisation, has been appointed as the CEO of Flipkart. Sachin Bansal will continue as executive chairman.</p>.<p><br />"Its (restructuring) is about improving operational efficiencies so that we can execute on our plan...business is getting bigger...Binny moves to a bigger role to ensure there is more focus," Sachin Bansal said on the sidelines of Vibrant Gujarat Global Summit.<br /><br />The India's largest e-commerce firm is locked in an intense battle with one of the world's largest e-tailers, Amazon, in the Indian e-commerce market. The company has raised over USD 3 billion so far from investors like Tiger Global, Naspers and Accel Partners among others.<br /><br />Asked if Flipkart is looking at another round of funding at a time when rival Amazon has been pumping in billions of dollars to strengthen its position in the Indian market, he said there are "no such plans right now".<br /><br />Bansal said that sales season has been defining for the company. "It has turned around things for us...given a positive momentum," he said.<br /><br />He said the company will ensure that customers continue to get differentiated and great experience on the Flipkart platform.<br /><br />Bansal said that demonetisation (scrapping of old Rs 500 and Rs 1,000 notes) that lead to a spurt in digital transactions, has been "good" for the company. "We are seeing a lot of growth in digital transactions. Cash transactions have come down and digital transactions have gone up," he said. <br /></p>
<p>2017 will be a defining year for Flipkart as the company is looking to take "decisive lead" in the Indian market, its co-founder Sachin Bansal has said.<br /><br />The company, which recently announced top-level changes, said the restructuring is aimed at "improving operational efficiencies".<br /><br />Earlier this week, in a major restructuring, Flipkart brought all its units under an umbrella firm and elevated Binny Bansal as the Group Chief Executive Officer. Kalyan <br />Krishnamurthy, previously head of Category Design Organisation, has been appointed as the CEO of Flipkart. Sachin Bansal will continue as executive chairman.</p>.<p><br />"Its (restructuring) is about improving operational efficiencies so that we can execute on our plan...business is getting bigger...Binny moves to a bigger role to ensure there is more focus," Sachin Bansal said on the sidelines of Vibrant Gujarat Global Summit.<br /><br />The India's largest e-commerce firm is locked in an intense battle with one of the world's largest e-tailers, Amazon, in the Indian e-commerce market. The company has raised over USD 3 billion so far from investors like Tiger Global, Naspers and Accel Partners among others.<br /><br />Asked if Flipkart is looking at another round of funding at a time when rival Amazon has been pumping in billions of dollars to strengthen its position in the Indian market, he said there are "no such plans right now".<br /><br />Bansal said that sales season has been defining for the company. "It has turned around things for us...given a positive momentum," he said.<br /><br />He said the company will ensure that customers continue to get differentiated and great experience on the Flipkart platform.<br /><br />Bansal said that demonetisation (scrapping of old Rs 500 and Rs 1,000 notes) that lead to a spurt in digital transactions, has been "good" for the company. "We are seeing a lot of growth in digital transactions. Cash transactions have come down and digital transactions have gone up," he said. <br /></p>