Additionally, the USD 25 billion of foreign direct investment (FDI) through ecommerce would equal the total FDI received by India in 2013-14. However, government would need to allow FDI in B2C ecommerce for this to happen, according to a report issued by India Opportunity Advisors, tribuneindia.com reports.
According to a report by Bank of America Merrill Lynch, the internet sector in India is at an inflexion point and will achieve hyper growth in the coming years led by improving smartphone penetration, evolving consumer behaviour and online companies’ value proposition. With expected improvement in telecom infrastructure, declining smartphone prices and improving trust, the transacting market of 35 million users is expected to increase to 200 million by 2017.
The Economic Survey had also noted the growth in start-up ventures. It said that in 2013-14, there was hyper growth in the technology start-up and software product landscape with India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country.
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