1、For updated information,please visit www.ibef.orgNovember 2024E-COMMERCE2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies14Growth Drivers19Key Industry Contacts26Appendix28Table of Contents3Executive summary(1/2)Source:Media sources,Global Internet:e-commerces steepen

2、ing curve published by Goldman Sachs,Forrester Research,News ArticlesThe Indian e-commerce market is projected to grow from US$123billion in 2024 to US$292.3 billion in 2028,reflecting a compoundannual growth rate(CAGR)of 18.7%.The e-commerce industry in India demonstrated remarkable resilience and

3、diversification in fiscal year 2023(FY23),recording a robust 26.2%jump in order volumes.This growth was primarily driven by a 31.1%surge in demand from tier-1 cities,as work-from-office arrangements resumed following the pandemic-induced disruptions.Indias e-commerce market is set to reach US$325 bi

4、llion by 2030,fueledby500millionshoppersandincreasedinternetaccess,especially in rural areas.By 2026,over 1.18 billion people are expectedto have smartphones,enhancing digital transactions.Rural areas willdrive over 60%of demand,particularly from tier 2-4 towns.Online penetration of retail is expect

5、ed to reach 10.7%by 2024,versus 4.7%in 99.The retail market in India is projected to reach US$2 trillion by2032 from US$690 billion in 2021.The e-retail market in India is projected to surpass US$160 billionby 2028.In 2023,the market is estimated to be valued betweenUS$57 billion and US$60 billion,m

6、arking a significant increasefrom previous years.This growth equates to an annual addition ofUS$8 billion to US$12 billion since 2020.As of December 2023,India has around 936.16 million internetsubscribers,including about 350 million mature online usersactively engaging in transactions.Indias digita