Sunday, August 14, 2022

India’s e-commerce market will be $120 billion by 2026

The retail segment could grow to more than $1. 8 trillion by 2030 from $705 billion in 2020

PRAVASISAMWAD.COM

 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.

******************************************************

Readers

These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.

Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world.  We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.

Please help us to keep our journalism independent and free.

In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.

For more information: pravasisamwad00@gmail.com

Tirthankar Ghosh
Tirthankar Ghosh is a senior journalist and presently Managing Editor, Newsline Publications. He has also been writing for well over 15 years for the New York-based Air Cargo News Flying Typers.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

EDITOR'S CHOICE