November 30, 2016
India’s Prime Minister Narendra Modi plans to move all government purchases, from paper clips to power plant turbines, to an Amazon-like online marketplace that could eventually be worth a fifth of the country’s $2 trillion economy.
Modi’s government, which on Nov. 8 announced a sudden decision to replace 86 percent of India’s cash in a bid to cut corruption and move to a cashless economy, has much riding on the new online market, which has already traded 390 million rupees ($5.7 million) since it began in August.