half a decade back, Indians were introduced to ecommerce when Indian Railways and private airlines started selling their tickets online.
Even though then the number of people using the Internet was less and mostly concentrated in the metropolitans, it surprised many industry experts to see the boom. Rs. 1000crores and other companies followed suit. Currently, more and more Indians even in the second tier states of the country are using internet to buy product and services. Website services such as hotel, flight, train reservation, banking, tax and bill payment, entertainment, matrimonial sites, job sites, etc. are attracting more and more people towards the internet
Since 2012, e-commerce in India has grown the fastest in the Asia-Pacific region. With over 250 million internet users and growth being shown at an extremely fast rate, e-commerce in India is estimated to reach 21000crores INR in 2015, which is eight times, the amount it was worth in 2009. This info graphic by voucher cloud takes a look at the growth of e-commerce in India and predicts the levels it could reach in the not too distant future.
E-commerce industry is likely to clock a compounded annual growth rate (CAGR) of 35% and cross the$100-billion mark over the next five years, from $17 billion at present, according to an Assocham-Pricewaterhouse Coopers study. Riding on the strong growth momentum of 2015, the e-commerce sector isannual spend on online purchases per individual in 2016, estimated to see a 72% jump in the average from the current level of 65%, the study said.