The first ball in the Indian e-commerce game has been bowled. But was it a no ball? While believers celebrate each new round of investment poured into e-commerce startups, cynics are crying hoarse that the boom will pretty soon go bust. In a free-wheeling chat with ET, Rajan Anandan, head of Internet giant Google's India operations -- quite obviously a believer -- makes a spirited argument endorsing the view that e-commerce is booming in India. Once again. To build his argument, Anandan takes a trip down memory lane and points out that the world's largest online retailer Amazon.com went public in 1997 when there were merely 50 million internet users worldwide. India crossed 100 million users last year despite poor internet penetration and sluggish internet speed. It is a big number, says Anandan because it makes India the third largest internet market in the world by number of users. "Our estimates are that on an average, these 100 million spend about 16 hours a we
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