The e-commerce market will account for 2.5 per cent of the India’s GDP by 2030, growing 15 times and reaching $300 billion, a report said today. The current market size of e-commerce is $20 billion.
The report by Goldman Sachs cited the “hyper growth in affordable smartphones, improving infrastructure, and a propensity to transact online,” as key growth factors.
“Further, India’s attractive demographics — the youngest population in the world — should lead to over 300 million new online shoppers in the next 15 years, making e-tailing the largest online segment,” it said.
The report identified e-retailing, online travel, digital advertising market and electronic payments as segments that could “potentially catalyse domestic companies into multi-billion dollar businesses.”
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.