Home / Knowledge / News / Apparel/Garments / Indian e-commerce set to grow 15 times by 2030: Report
Indian e-commerce set to grow 15 times by 2030: Report
07
May '15
It is boom time for e-commerce in India. The segment will account for 2.5 per cent of the country’s GDP by 2030, growing 15 times and reaching $300 billion, according to a report by Goldman Sachs.

The current market size of e-commerce is $20 billion. The report 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.

Goldman Sachs identified e-retailing, online travel, digital advertising market and electronic payments as segments that could "potentially catalyse domestic companies into multi-billion dollar businesses".

India will have the second-largest digital population in the world with one billion users by 2030, powered by online mobile penetration, it added.

"India has enough spectrum and telecom infrastructure to provide 3G data coverage to 25-30 per cent of the population," it said.

The payment landscape is also evolving fast with the launch of digital wallets and payment banks, despite 60 per cent of e-commerce transactions in cash-on-delivery mode, the report pointed out.

"Logistics and infrastructure are bottlenecks, but also indirect drivers for online adoption," it added.

According to the report, over $6 billion of private funding has come into India in 2014 and "significant funds are still waiting, implying a potent eco-system is in place." (SH)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search