India e-Commerce Market Outlook to 2024: Overview, Trends, Initiatives, Companies
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Tuesday, May 26, 2020
Increased adoption of smartphones and access to the Internet, along with streamlined logistics infrastructure are the key factors driving the growth of the e-commerce market in India.
Key Points:
- Increased adoption of smartphones and access to the Internet, along with streamlined logistics infrastructure are the key factors driving the growth of the e-commerce market in India.
- Moreover, government initiatives to promote tourism such as Athiti Devo Bhava and Incredible India have attracted international travelers in India, which has had a positive impact on market growth.
- Companies including MakeMyTrip, Goibibo, IRCTC, Clear trip and Yatra.com are leading the players in the online travel market in India.
- By 2024, the online retail market is expected to dominate the e-commerce market in India and reach a value of INR 4,289.64 billion, expanding at a CAGR of ~20.22%.