Economic Times: January 13, 2017
Bengaluru: Indian shoppers spent an estimated Rs 58,370 crore on shopping from other countries last year, and cross-border spending could grow 85% in 2017, digital payment firm PayPal said in a report.
The report said that 25% of the online shoppers surveyed in India claim to have shopped from websites in other countries in the past 12 months..
““The internet has truly democratized cross border trade. The freelance economy has grown in India and a considerable number of Indians shop in the global marketplace,” Anupam Pahuja, Managing Director, PayPal India, said in a statement.
The top 3 popular corridors for cross-border shopping were USA (14% of online shoppers have shopped from a website in the USA in the last 12 months), UK (6%) and China (5%).
The report also estimated that total online spends, inclusive of domestic and cross border shopping, would reach Rs. 8,75,600 crore in 2018, a 31% expected increase from 2017.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.