India is one of the fastest growing e-commerce markets in the world, with a market value of $200 billion expected by 2026. The total value of India’s e-commerce market was $19.7 billion in 2015, and reached $38.5 billion in 2017, a record high.
In 2022, the proportion of online shoppers in India’s population will increase to 41.6%. India has great potential for growth in Internet users. According to world Internet statistics, India has 460 million Internet users and an Internet penetration rate of 34.4%, with Internet penetration in urban areas approaching 60%. In 2016, the market size grew at a rate of 80.9%, ranking first among the top 20 e-commerce markets in the world. Although India’s e-commerce market has more than tripled since 2015, it still has a long way to go. Until 2017, India’s e-commerce retail sales accounted for only 2.9% of total retail sales, which is still a low proportion compared to other developed markets in the Asia-Pacific region.
As more and more young people use smartphones and shop online, India’s e-commerce industry is expected to rank third in the Asia-Pacific region in terms of growth rate in 2018. According to the Mobile Market Report released by Indian media Ericsson, by the end of 2021, the total number of mobile Internet users in India is expected to be close to 1.37 billion, and the number of smartphone users will reach 810 million.