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

Pic: Shutterstock

Textiles | On 18th Jun 2021

UK, US strike deal on Airbus-Boeing tariff dispute

The United Kingdom has struck a deal with the United States on the...

Pic: Shutterstock

Textiles | On 18th Jun 2021

Bangladesh can save $500 mn annually by recycling cotton waste: CFP

Bangladesh's garment industry can reduce its annual spending by $0.5...

Pic: Shutterstock

Textiles | On 18th Jun 2021

Prime Content| Caprolactam price in Chinese market to rise moderately in 2021: TexPro

Price of caprolactam in Chinese market is expected to rise moderately ...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

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

Leave your Comments


June 2021

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


Advanced Search