India's smarter-shopping Phenom

Internet shoppers had for years been discouraged from buying physical goods, Bansal says, as there was a lack of reliable Indian shopping sites. But he explains online ticketing sales took off sooner, which helped consumers become more familiar with Internet shopping.

"It's only now, with serious players entering the fray offering customer-friendly policies and a transparent shopping process, that e-commerce is truly catching on in India," he says.

The country is slowly opening up to entrepreneurs, he explains: "The attitude of the government, society, investors - everyone - has become more welcoming. As a result, industries are also becoming more conducive to new businesses."

Flipkart has been a key player in developing the Indian e-commerce story and is "committed to giving back to the communities" that have helped it grow.

Bansal believes that a successful company is one that not only chalks up business milestones but also sets an example as a socially responsible organization.

"Commitment to a corporate social responsibility program enriches the company culture and drives employee pride and brand integrity - all essential to an organization's all-round growth," he says.

Whenever he is asked to give advice to budding entrepreneurs, the first thing he says is to always have a cofounder.

"Entrepreneurship is not easy, and having a like-minded partner to share ideas and responsibilities with is a huge bonus. Binny and I believe in discussing each and every idea. While he is analytical, I am more strategic, and this makes it a perfect partnership.

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