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Paytm chief wants to challenge Flipkart, Amazon at home

India's youngest billionaire says winner of e-commerce sector yet to be determined

A Hindu holy man pays for a book using Paytm’s digital wallet service during the annual Magh Mela religious service in Allahabad.   © Reuters

MUMBAI -- With competition intensifying in the Indian online consumer services sector, Vijay Shekhar Sharma, the founder, owner and chairman of Paytm, the mobile wallet and ecommerce company, wants to focus his resources on the country's fast-growing domestic market rather than expanding abroad.

Sharma, India's youngest billionaire, last year launched Patym's bill payment app in Canada in what was seen as a first step in an ambitious global expansion plan. Sharma told Nikkei Asian Review in 2016 that he was open to exploring global markets. But he has since changed his mind in response to growing competition in the domestic market.

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