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'E-commerce market to be worth $70 billion by 2020'
10
Sep '15
Myntra CEO Ananth Narayanan has said the e-commerce market will be high on growth, which will help the e-commerce player become profitable in segments, including fashion, and grow at about 65-70 per cent.

He has said that the e-commerce market in India will be worth about $70 billion by 2020 and players will be investing around $1-2 billion over the next few years, mainly in tier II cities and towns.

At the Economist India Summit in New Delhi, Narayanan said the high growth of e-commerce will help Myntra become profitable in segments, including fashion, and grow at about 65-70 per cent.

He expects shopping to become more redefined on the e-commerce platform in the next few years and believes people will continue to shop despite hurdles. Narayanan said access to credit could be a catalyst for online retail industry's growth. (SH)

Fibre2Fashion News Desk – India

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