The retail segment could grow to more than $1. 8 trillion by 2030 from $705 billion in 2020
A joint report released recently by industry body FICCI and property consultancy Anarock has said that the Indian e-commerce market was expected to reach $120 billion by 2026 from $38 billion in 2021. This rise, said the report, would help the warehousing and logistics sector in the country to growth.
According to the report, the retail segment could grow to more than $1. 8 trillion by 2030 from $705 billion in 2020. “Additionally, COVID-19 has accelerated the growth of e-commerce across India. Online shopping has increased significantly in Tier-II and Tier-III cities as well due to the easy availability of the internet on cheaper tariffs and restrictions on physical movement during the time of the pandemic,” FICCI said in a statement.
The FICCI-Anarock report also pointed out there would be more demand for quality workspaces that were well-located, offered convenience to employees and also provided facilities that promoted well-being and hygiene
The increase in online sales beyond Tier-I cities has been aided by the development of infrastructure and the policy support provided by the government. Among these are the introduction of the Gati Shakti Programme, GST, National Manufacturing Policy, Self-Reliant Campaign, land and tax reforms.
In addition, the e-commerce boom was aided by the Covid-19-led lockdowns across the globe which highlighted the need for a ‘China plus one’ strategy for manufacturing since supplies from China were disrupted due to the forced lockdowns there. Today, many companies are looking to shift their base away from China and open new manufacturing facilities in India among other countries.
The FICCI-Anarock report also pointed out there would be more demand for quality workspaces that were well-located, offered convenience to employees and also provided facilities that promoted well-being and hygiene.
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