India’s e-commerce market to grow fourfold to $150 billion by 2022
A 'Make-for-India' solution approach along with conducive policy environment can potentially make e-commerce a $150 billion market by 2022 with a globally leading compounded annualized growth rate of 35%, says a report by Nasscom and PwC
New Delhi: India’s e-commerce market, dominated by Flipkart Pvt. Ltd and Amazon.com Inc., can potentially grow more than fourfold to $150 billion by 2022, fuelled by rising incomes and a surge in internet users, according to a latest report. During the period, the size of India’s middle-class is expected to swell to 540 million from 380 million in 2017, showed the report by software industry lobby group Nasscom and consulting firm PwC India. The e-commerce market was pegged at $36 billion last year.