E-commerce market in India to be world’s third-largest by 2030

April 29, 2024

Invest India has forecasted a bright future for India’s e-commerce industry, predicting a massive surge to $325 billion by 2030. This growth coincides with a digital economy expected to reach a staggering $800 billion in the same timeframe.
According to Invest India, India has the world’s second-largest internet user base, with a whopping 881 million users. India is in a good position to become the third-largest online retail market by 2030.
The report suggests that this will happen due to the growth of the internet user base and the flourishing digital economy. According to the report, India is expected to have around 500 million online shoppers by 2030.
This growth is attributed to various factors:
- Increased Internet Accessibility: Invest India underscores the escalating internet penetration, forecasting that 87% of Indian households will have internet access by 2025. Notably, mobile internet usage witnesses a significant surge, with extended access duration.
- Expanding Online Shopper Base: The report predicts a rise in the number of online shoppers, with robust growth rates expected in both rural and urban areas.
- Affordable Data Plans: India’s highly affordable data packages play a pivotal role in driving e-commerce adoption, facilitating broader online access.