Meg Whitman, the CEO of world’s largest auction site eBay, is going to be in India this week. The Economic Times has an exclusive pre-visit interview with the world’s most powerful woman in business. Key excerpts:
You have a $100 million promotion budget for China. Do you see China as a bigger online market than India?
At the moment, yes. Next to the US, China represents the biggest internet population in the world. But with that said, I think the internet has great potential in India as well. It’s still in the very early stages, but we are excited about the opportunities ahead. Our job is to work with local buyers and sellers to help them grow e-commerce in a way that works well in India.
What opportunities do you see in countries like India where internet penetration is low and buyer behaviour is pretty much traditional?
We see enormous opportunity here. While Internet penetration is still relatively low, it’s growing rapidly. Users clearly see the benefits that online trading can bring. Our focus is on leveraging the long-term growth potential of eBay India to enable more commerce and connections among our community of users. I think e-commerce will do very well here in India.