Flipkart targets $8 billion sales in 3 years

India's largest online retailer Flipkart aims to double the total value of goods it sells to $8 billion in the next three years, as it looks to widen the gap with rivals including Snapdeal and Amazon's India unit.

According to two sources present at a townhall meeting with employees on Wednesday, founders Sachin Bansal and Binny Bansal said Flipkart aimed to increase gross merchandise values (GMV), or the value of the goods sold on its site, to $8 billion.

That compares to $4 billion it is clocking currently.

GMV is calculated on monthly average sales. Industry sources estimate Snapdeal and Amazon's India arm currently notch up gross merchandising values of around $3 billion and $1 billion respectively.