The Indian online grocery market is estimated to reach US$ 26.93 billion in 2027 from US$ 3.95 billion in FY21, expanding at a CAGR of 33%.
India's consumer digital economy is expected to become a US$ 1 trillion market by 2030, growing from US$ 537.5 billion in 2020, driven by the strong adoption of online services such as e-commerce and edtech in the country.
The Indian e-commerce industry is projected to reach US$ 325 billion by 2030, experiencing significant growth.
Third-party logistics providers are anticipated to manage approximately 17 billion shipments within the next seven years.
India's e-commerce sector achieved approximately US$ 14 billion in Gross Merchandise Value (GMV) during the 2024 festive season, marking a 12% growth from the previous year.
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.
The India Quick E-Commerce (Quick Commerce) market is poised for exponential growth, projected to reach US$ 19,932.5 million driven by rising internet and smartphone penetration, convenience of quick delivery, and accelerated adoption during COVID-19, with diverse product categories and order value segments catering to evolving consumer preferences, and the domination of metropolitan cities presenting significant opportunities for retailers and key players to capitalize on the rapidly expanding market.
In FY23, the Gross Merchandise Value (GMV) of e-commerce reached US$ 60 billion, increasing 22% over the previous year. In FY22, the GMV of e-commerce stood at US$ 49 billion.
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 2024 to US$ 292.3 billion in 2028, reflecting a compound annual growth rate (CAGR) of 18.7%.
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.
In 2023, social commerce significantly transformed traditional retail and e-commerce in India, with projections indicating a growth rate of 31% CAGR, reaching US$ 37 billion by 2025.
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 fiscal year 2023 (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.
The B2C E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 8.68% during 2023-27. According to a recent report by RedSeer, India’s e-B2B market is projected to reach a GMV of US$ 100 billion by 2030.
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).