India: ecommerce expected to increase 15 times by 2030

Friday 8 May 2015 11:02 CET | News

Indian ecommerce market is expected to increase 15-fold by 2030, according to a recent research study.

Ecommerce will account for 2.5% of the countrys GDP in 2030, when its value will have leapt from the current figure of USD 20 billion to USD 300 billion, according to a report issued by Goldman Sachs bank, reports. It cited the availability of affordable smartphones and improving infrastructure alongside a propensity to transact online as factors driving this growth.

The arrival of 300 million new online shoppers during this period will make e-tailing specifically the largest online segment. The current growth of ecommerce businesses is being driven by discounting, supported by significant cash injections by external investors.

Now, Big Bazaar, Indias largest hypermarket chain, is pledging to match the prices on offer at its online rivals, as it plans to introduce an app that will allow shoppers to compare prices at online and offline retailers. At the same time, Big Bazaar chief executive Kishore Biyani. professed himself unconcerned by ecommerce, arguing that multichannel retail is the future.

Check out our Cross-border Ecommerce Research section here for more info on specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation in India.

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Keywords: India, ecommerce sector, online sales, online payments, e-payments, customer, merchant, retailer
Categories: Payments & Commerce
Countries: World
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