Can Flipkart + Snapdeal fight Amazon?

The consolidation is happening. We learn that the top investors of Snapdeal are now figuring out a way to sell the business to Flipkart and up their game against the behemoth Amazon. It's a clear indication that the world of eCommerce is being divided into two giants: Amazon and Flipkart.

These players have been thriving on the discounts that attracted the customers; but couldn't build a profitable business model. But once the funds start drying up, it's going to be a lot harder for these companies to retain their customer base.

Most importantly, I think the Indian buyer is ready to accept inconvenience (of going to the store and buying at a cheaper price) than paying more price for an item to buy it online.

What do you think? Will Indian e commerce be profitable ever?