Why LIC should buy 5% in IRCTC for $1 billion
By N Sundaresha Subramanian www.business-standard.com
The government is said to be making efforts to improve the valuations of its first and probably only e-commerce venture IRCTC.co.in.
“We have been asked to grow like Flipkart,” A K Manocha, managing director of Indian Railway Catering and Tourism Corp (IRCTC), which owns and runs the website, was quoted as saying in The Economic Times Wednesday.
That seems like a misguided piece of advice – like telling a studious teenager who is doing well academically but pays little attention to his looks to become like a Roadside Romeo who is into weird haircuts, tattoos and, for some strange reason, seems to be popular among the girls.
It has been known for long that IRCTC is the largest e-commerce portal in the country. According to the Economic Times story, its total transaction size is comparable to the gross merchandise value of Flipkart, the largest among the private e-commerce firms. More info