E-commerce industry to touch $550 bn by 2035
Driven by Internet penetration, digital payment infrastructure and a young, tech-savvy population, the Indian e-commerce sector is expected to touch $550 billion by 2035, growing at a CAGR of 15 per cent, a new report said on Thursday.
Mumbai: Driven by Internet penetration, digital payment infrastructure and a young, tech-savvy population, the Indian e-commerce sector is expected to touch $550 billion by 2035, growing at a CAGR of 15 per cent, a new report said on Thursday.
In 2024, the value of this vibrant and disruptive retail segment was estimated at $125 billion, and is likely to touch $345 billion by 2030-end.E-commerce has become a fulcrum of change for the Indian retail industry, according to a joint report by Anarock released here.
Also, post-Covid, the mall vacancy rate has declined from 15.4 per cent in 2019 to 8.1 per cent in 2024.The report mentioned that an increasing Internet penetration, smartphone adoption, digital payment infrastructure, and a young, tech-savvy population are driving this growth.
Government initiatives like 'Digital India' and rapid improvements in the country's logistics and supply chain networks have further boosted its growth prospects.
