According to a recent report by EY India, generative artificial intelligence (GenAI) could enhance productivity in India’s retail industry by 35-37% over the next five years. The report, titled ‘The AIdea of India: 2025’, reveals that 48% of Indian businesses have already initiated proof of concept (PoCs) for GenAI solutions, while another 32% are planning to invest or have allocated budgets for AI adoption.
In January 2025, the Unified Payments Interface (UPI) facilitated a total of 16,996 crore transactions, with the platform processing over Rs. 23.48 lakh crore (US$ 270.3 billion) in value.
As reported by Counterpoint Research, India's smartphone market has positioned itself as the second largest in the world by unit volume and the third largest by value in the third quarter of CY24. During this period, India represented 15.5% of global smartphone shipments.
According to the International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker, India's smartphone marke From April-June 2024, the Unified Payments Interface (UPI) facilitated a total of 2,762 crore transactions, with the platform processing over Rs. 44 lakh crore (US$ 525.5 billion) in value.t experienced a year-over-year (YoY) growth of 4%, with total shipments reaching 151 million units. The robust performance in the first half of the year, which saw a growth rate of 7%, offset the slower growth in the second half, where the rate was only 2%.
The Government e-Marketplace (GeM) has exceeded last year's record Gross Merchandise Value of Rs. 4 lakh crore (US$ 46.05 billion) within just 10 months of FY25.
India's e-retail market is projected to exceed US$ 160 billion by 2028, driven by strong post-pandemic growth and significant potential for expansion, as online spending currently represents only 5-6% of total retail spending compared to much higher rates in the US and China.
India is poised for massive growth, with India’s quick commerce market expected to reach Rs. 43,435 crore (US$ 5.0 billion) by FY25 and Rs. 86,001 crore (US$ 9.9 billion) by FY29.
India's Business-to-Business (B2B) online marketplace would be a US$ 200 billion opportunity by 2030.
The Indian e-commerce market is projected to grow from US$ 123 billion in FY24 to US$ 292.3 billion in FY28, reflecting a compound annual growth rate (CAGR) of 18.7%.
According to a Deloitte India Report, as India is moving towards becoming the third-largest consumer market, the country's online retail market size is expected to reach US$ 325 billion by 2030, up from US$ 70 billion in 2022, largely due to the rapid expansion of e-commerce in tier-2 and tier-3 cities.
The e-commerce industry in India demonstrated remarkable resilience and diversification in FY23, recording a robust 26.2% jump in order volumes. This growth was primarily driven by a 31.1% surge in demand from tier-1 cities, as work-from-office arrangements resumed following the pandemic-induced disruptions.
In FY24, tech and e-commerce giants Google, Meta, Amazon, and Flipkart generated over Rs. 60,000 crore (US$ 7.19 billion) in advertising revenue, a 9% increase from Rs. 55,053 crore (US$ 6.60 billion) in FY23.
The e-commerce market’s share of Tier-3 cities grew from 34.2% in 2021 to 41.5% in 2022, shows data.
India has the opportunity to significantly increase its share in the global B2C e-commerce market, which is projected to reach US$ 8 trillion by 2030. With current e-commerce exports at US$ 2 billion, there is substantial room for growth, particularly in high-demand products.
According to Grant Thornton, e-commerce in India is expected to be worth US$ 188 billion by 2025.
Propelled by rising smartphone penetration, the launch of the 4G network and increasing consumer wealth, the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion in 2017.
After China and the US, India had the third-largest online shopper base of 150 million in FY21 and is expected to be 350 million by FY26.
Indian consumers are increasingly adopting 5G smartphones even before the rollout of the next-gen mobile broadband technology in the country. Smartphone shipments reached 169 million in 2021 with 5G shipments registering a growth of 555% year-on-year over 2020. Indian consumers are increasingly adopting 5G smartphones even before the rollout of the next-gen mobile broadband technology in the country. Smartphone shipments reached 150 million units and 5G smartphone shipments crossed four million in 2020, driven by high consumer demand post-lockdown. According to a report published by IAMAI and Kantar Research, India’s internet users are expected to reach 900 million by 2025 from ~622 million internet users in 2020, increasing at a CAGR of 45% until 2025.
For the first week of 2023 festive season, Indian e-commerce platforms generated sales worth US$ 5.67 billion Gross Merchandise Value (GMV).