MUMBAI: Internet & Online Association of India (IOAI) has appointed Yahoo Web Services India Pvt Ltd country head Neville Taraporewalla as the chairman of IOAI.

Subsequently, Times Internet Ltd CEO Mahendra Swarup will take over as vice-chairman of the association.

According to Taraporewalla, “There is a huge potential in online marketing industry and it is IOAI’s constant endeavor to ensure that online media will be appreciated along with other mediums."

The association was founded in January 2004 by Indian portals Hindustantimes.com, Indiatimes.com, MSN.co.in, Rediff.com, Sify.com, Yahoo.co.in and the online media agency, Mediaturf, informs a media release.

As quoted in the release, Mahendra Swarup said, “The rapid development of eCommerce is forcing companies today to adopt business strategies revolving around the internet. The ecommerce market size in India is estimated to reach Rs 800 crores while the online advertising market is expected to touch Rs 137 crores by 2005-06."