ASSOCHAM Reported that Indian e-commerce sector growth triples in five years
The Indian E Commerce sector tripled or grew by 209% past 5 years. From $4.4 billion in 2010 to $13.6 billion in 2014
Growth and Development in E-Commerce sector:
♦ According to an Associated Chambers of Commerce & Industry of India
Country’s E-commerce market is expected to reach $38 billion (Rs 252,700 crore) in 2016.
♦ According to Confederation of Indian Industry (CII) and Deloitte , a consultancy
The online retail sector in India is expected achieve $1 trillion (Rs 660,000 crore) market by 2020.
The Goods and Services Tax is expected to boost the growth of e-commerce by simplifying taxation and logistics
♦ Internet penetration across the country is rising with as many as 354 million users reported as of September 2015
Percentage of Internet Users:
Australia – 90 %
US – 87%
Japan – 86%
Brazil – 53%
China – 46%
India – 19 %
♦ Online shoppers have increased from 20 million in 2013 to 39 million in 2015, an increase of 95 percent over three years.
♦ Mobile internet spend has enhanced from 54 percent to 64 percent from 2014 to 2015, attributed to high-speed 3G and 4G internet connectivity at some of the world’s lowest prices
♦ The average broadband speed in India is 2 mega bits per second (mbps), ranking 115 globally
♦ Government allowed 100 percent foreign direct investment in online retail market places-electronic platforms that connect buyers and sellers.
♦ US retailer Amazon became the second-largest online marketplace by shipments
♦ In the taxi business, multinational Uber is in battle with India’s Ola