Bengaluru, June 26
Starting from a base of $30 billion in 2020, India’s online commerce sector is expected to get to $300 billion by the end of the decade in 2030, contributing to a $1 trillion digital opportunity in the country, according to a report released on Thursday.
This demonstrates it is no longer a niche phenomenon catering to a small segment but has firmly established itself as a dominant force within the Indian retail landscape for a significant and growing share of the population, said Bessemer Venture Partners in its report.
“India presents a $1 trillion dollar digital opportunity. The emergence of multiple consumer marketplaces, platforms and new-age brands in the past decade are a testament to the growing aspirations of an emergent India. This makes us exceptionally optimistic about the potential for many more consumer plays to emerge in the coming years,” explained Anant Vidur Puri, Partner.
A tailwind trifecta of internet penetration, evolving demographics, and policy changes are among the trends that have enabled the rise of new age consumer companies.
Going forward, it is the evolution of commerce marketplaces, content platforms and changing consumer aspirations that will power newer companies to win in the Indian context, the report noted.
India's burgeoning online commerce sector has witnessed an extraordinary expansion in recent years.