Invest India’s latest report paints a promising picture for India’s e-commerce landscape, forecasting a substantial surge to a whopping $325 billion by 2030. This projection aligns with the country’s digital economy, expected to soar to an impressive $800 billion within the same timeframe.
India stands out with the world’s second-largest internet user base, boasting a staggering 881 million users. Leveraging this robust digital foundation, the country is poised to claim the third spot in the global online retail market by 2030, driven by the rapid expansion of internet access and the flourishing digital economy.
The report envisions India spearheading the online shopping revolution, with an estimated 500 million shoppers anticipated by 2030. This remarkable growth trajectory is underpinned by several key factors:
- Rapid Internet Penetration: Invest India highlights the escalating internet penetration, with an anticipated 87% of Indian households expected to have internet access by 2025. Notably, mobile internet usage witnesses a substantial surge, indicating a significant increase in access duration.
- Expanding Online Shopper Base: The report projects a considerable rise in the number of online shoppers, fueled by robust growth rates in both rural and urban areas.
- Affordable Data Prices: India’s remarkably affordable data plans play a pivotal role in driving e-commerce adoption, facilitating increased online participation and engagement.
Moreover, the report delves into additional drivers propelling this e-commerce boom, such as the burgeoning smartphone user base, the widespread adoption of Unified Payments Interface (UPI) in digital transactions, and the availability of localized content in regional languages.
Invest India underscores the shifting dynamics towards rural-centric e-commerce, with a substantial portion of demand anticipated from tier 2-4 towns and rural areas by 2026. Supported by government initiatives and the emergence of quick commerce, this trend gains further momentum.
In essence, Invest India’s report presents a compelling vision of India’s trajectory towards becoming a global e-commerce powerhouse by 2030. With a burgeoning internet user base, cost-effective data accessibility, and a robust digital infrastructure, the stage is set for an exhilarating future in India’s e-commerce landscape.
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