E-commerce in India to touch $60 billion by 2023

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February 27 2014

MUMBAI: India's e-commerce sector is expected to have 7 per cent share of country's retail market amounting to $60 billion by 2023, a senior industry official said.

"By 2023, e-commerce in India will have 7 per cent share of retail amounting to $60 billion dollars," Technopak Advisors chairman Arvind Singhal said at 'eTailing India Conference and Exhibition 2014' here.

February 27 2014

MUMBAI: India's e-commerce sector is expected to have 7 per cent share of country's retail market amounting to $60 billion by 2023, a senior industry official said.

"By 2023, e-commerce in India will have 7 per cent share of retail amounting to $60 billion dollars," Technopak Advisors chairman Arvind Singhal said at 'eTailing India Conference and Exhibition 2014' here.

Telecom companies will be the biggest e-commerce players in India over the next couple of years, Singhal said. to play in Friday's game."

Singhal pointed out that there is limited access to financial capital — the industry needs FDI in e-commerce and free access to capital. Logistics, spoiling consumers with unreasonable promises, and poor Internet connectivity will be some of the challenges for e-commerce in India.

Nitin Bawankule, industry director, Google, said, "The signs are all encouraging. Air tickets and train tickets have been the earliest successes of e-commerce in India.

The size of the industry was $1.5 billion in 2012 (exclusive of tickets) and grew to $2.5 to 2.8 billion in 2013. The number of online shoppers has more than doubled — 20 million shoppers in 2013 from 8 million in 2012. The average consumer basket has grown by 50-80 per cent online."

It would be easy to conclude that e-commerce in India will be $17 to 20 billion in the next five years, he said.

The three-day conference features over 70 industry speakers and covers diverse topics such as omni-channel retailing, packaging for e-commerce, marketing, warehousing, mobile & tablet commerce, payment solutions and retail exports in e-commerce.


Courtesy: PTI