Indian Ecommerce Space May Grow 50% in Next 5 Years

Image Source: Galaxymag

Image Source: Galaxymag

As per Economic Survey 2014-2015, tabled in Parliament Friday by Finance Minister’s Arun Jailtley, Indian e-commerce market is expected to grow by more than 50% in the next five years.

Inventory management, logistics planning and resource availability are important hurdles for online retail in India and consumer safeguard being another concern for consumers of eCommerce.

As per an ET report, in 2014 PM Narendra Modi had set up a Task Force to give suggestions to drive up revenues of India Post in with various services including e-commerce. The Task Force also added that the rural India should be the main target area and out of total 1,55,015 Indian post offices, 89.76% are in the rural areas.

As per consultancy firm PwC, Indian e-commerce sector has grown by 34% since 2009 to touch $16.4 billion in 2014 and is further expected to touch $22 billion in 2015. According to Google’s annual online shopping growth trends report released in November 2014, done in a collaboration with Forrester Research, India will have 100 million online shoppers including 40 million women, by 2016. This means there will be a growth factor of 12X between 2012 and 2016 and by 2016, Indian e-commerce market could have retail revenues of USD15 billion..

Similar Read:  An eCommerce Marketplace Base Stands on AI & Data Sciences
Category