With the increasing penetration of smartphones and internet in India, the e-commerce sector is benefiting a lot. In the last few years, the e-commerce market in India has grown manifold. In a recent report, India has been described as the powerhouse of global e-commerce and it has been said that the size is going to increase manifold in the next few years.
Digital economy will also get a boost< /h3>
ANI has quoted a report by Invest India as saying that by the year 2030, the size of the e-commerce market in India is going to increase to $325 billion. The digital economy is also going to benefit from this tremendous boom that is coming in the e-commerce market. The report estimates that the size of the digital economy in India may increase to $ 800 billion by the year 2030.
This is the current size of the e-commerce market
At present, -The size of the commerce market is about 70 billion dollars. This is only 7 percent of the total retail market of India. If the report is true and the size increases to $325 billion by 2030, then it means that the size of the Indian e-commerce market is going to increase by more than 350 percent in the next 6 years. h3>50 crore people will use e-commerce
In fact, Internet access has expanded extensively in India. By the year 2022, Internet would have reached 52 percent of India's population. That means by 2022, about 76 crore people were using the internet in India. Due to this, the number of e-commerce users is increasing rapidly. According to the report, by 2030 the number of people using e-commerce in India will increase to 50 crores.
These factors are also helping
According to the report, With increasing internet and smartphone penetration, UPI and cheap data have helped in the expansion of e-commerce. UPI has made digital payment easy. Transactions worth $1.5 trillion were made through UPI in 2022. Data rates in India are one of the most affordable in the world. The average rate of one GB data in the country is around Rs 13.5.
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