Home / Knowledge / News / Apparel/Garments / Govt projects annual e-commerce growth at 10-15%
Govt projects annual e-commerce growth at 10-15%
09
Jun '15
India’s e-commerce sector would grow at a rate of 10-15 per cent annually, higher than the GDP growth rate, in coming years, minister of state for finance Jayant Sinha said in New Delhi, the media has reported.

The minister also said that the economy will more than double to $4-5 trillion if it can achieve a sustainable growth rate of 8-9 per cent over the next 10-15 years.

"Our hope is we can get to 8 or 9 per cent steady, sustainable GDP growth for the next 10-15 years. If we are able to do that, our $2 trillion economy will become a $4 or $5 trillion economy," he said at an Express Industry Council of India (EICI) conference.

With the growth in the economy, the volume of transactions on the ecommerce platform would also go up "exponentially", the minister said.

"So hopefully it (volume) will not only grow at 8 per cent, but grow 10-15 per cent a year. That's the addressable market that's coming your (express industry) way over next 10-15 years. The volume is going to go up dramatically and exponentially," he said.

Sinha said the government is going to further streamline and digitise e-commerce transactions to make flow of goods easier.

"Ecommerce is really going to be taking off. Flipkart, Amazon are also transforming the supply chains and the notion of instead of having big malls and people coming and buying things that notion is going to be rapidly replaced by delivery system that we are seeing from Flipkart, Snapdeal, Amazon and so on. So the whole logistics infrastructure, because of e-commerce, is going to change," he said.

According to a study by Assocham-Deloitte, e-commerce industry is set to cross business worth $16 billion by the end of 2015. The digital commerce market in India has grown steadily from $4.4 billion in 2010 to $13.6 billion in 2014, it said. (SH)

Fibre2fashion News Desk – India

Must ReadView All

Textiles | On 25th Apr 2017

Greater Manchester is high on its textiles industry

Greater Manchester is witnessing a boom in textiles industry with 77...

Apparel/Garments | On 25th Apr 2017

Indian trade leaders to discuss GST, digital payments

Trade leaders from various Indian states will meet in New Delhi to...

Apparel/Garments | On 25th Apr 2017

Foreign buyers paying less for green factory apparel

International buyers are not paying enough for apparel and garments...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search