With rapid surge in the number of Internet users and increase in the online shopping activities, Indian retail giant Flipkart.com expects sales to grow more than 10-fold this financial year.

“The base of Internet users in India has multiplied almost 10 to 11 times in the last six years. People in India are now more comfortable shopping online than they were before. The company’s sales in the year ended March 2011 were about $10 million,” Flipkart vice president Ravi Vora stated, according to a latestreport from Bloomberg.

Founded by former Amazon.com employees Sachin Bansal and Binny Bansal in 2007, Flipkart initially started as as an online bookstore. The company later introduced electronic items such as mobile phones, televisions, cameras, laptop computers and home appliances on its retail website and now shipping about 30,000 items per day.

Last month, Flipkart raised $150 million to $200 million from Private equity firms Carlyle and General Atlantic. Vora added that the company is planning to introduce new product categories and invest in logistics and technology, to meet rising demand.

Flipkart has been reaching out to the potential customers through social media sites and TV ad campaigns. To alleviate the fears of online transactions that Indian consumers often have and expanding its reach to households that still don’t posess credit cards, the company also gives customers the option of paying cash on delivery for the purchases made on the site. Customers can also purchase products on installments.