Future of E-Commerce in India

       

The fastest growing e-commerce market in the world, according to Forester, is undoubtedly India. The Indian Institute of commerce states that by 2020, India is expected to generate $100 billion online retail revenue out of which $35 billion will be through fashion e-commerce. India is tipped to reach 500 million internet users by June 2018, according to a report from the Internet and Mobile Association of India (Iambi) and Kantar IMB. That’s up from 481 million six months prior, but internet penetration in rural areas is at just 20 percent compared with 65 percent in urban India. That rush online has led some analysts to predict big gains for online retail with Morgan Stanley forecasting that 30 percent annual growth in GMT will take India’s e-commerce market to $200 billion by 2026. By the time you’re done reading this pen pushing act, someone somewhere would have completed several online transactions. A few clicks, and they’d be all set to receive their cherished treasure within a day or two. All it takes to reach the end of this article and to make an online purchase is a few minutes. One even spares oneself of the effort of leaving the comforts of one’s room, getting out of the house, negotiating the traffic of the city, reaching the nearest shopping area, scouting for the product, and then finally, buying that item. With online shopping, you save priceless time, energy and money. And if you’re still not convinced about the impact of e-commerce in India, Google ‘future of e-commerce in India’. We did, and within 0.17 seconds, reality was staring us in the face. Google bombarded us with 6,490,000 results. Chances are you’ve probably already bought a cartload of wares from online stores. Chances are equally bright that you’ve also convinced one of many emperors of the surrounding orthodox to buy goods online, just like you do. And even if you’ve shied away from buying online till now, you’re not late. The e-commerce story has just begun and you haven’t missed much. E-Commerce is not new to Urban India but what is the Future of E-Commerce in India … Recently, we saw lot of activities in this space like Flipkart bought Lets buy. Com, Amazon. Com announced its indirect entry in India through Junglee.com & off-course PE / CC investments in various E-Commerce ventures like Snapdeal.com.