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.”