New Delhi, Jan 7 (PTI) Retail eCommerce sales in India are expected to grow by 45 per cent to USD 7.69 billion this year, research firm eMarketer said. The country had witnessed retail eCommerce sales of USD 5.3 billion last year, according to eMarketer estimates of digital and brick-and-mortar retail sales around the world.
Retail eCommerce sales, including all products ordered over the Internet except travel, will grow 45.2 per cent to USD 7.69 billion this year, it added. eCommerce has taken India by a storm and has shown potential to grow further with the Indian government, firms and investors trying to capitalise on its popularity.
Last year saw big investors from India and abroad putting their money on various e-commerce ventures, which got funds to the tune of USD 3 billion from individuals, companies and private equity firms. The industry players expect the fund inflows to continue, or may be get stronger in 2015 as well.
A report by consulting firm Technopak pegs the USD 2.3 billion e-tailing market to reach USD 32 billion by 2020. Another report by consultancy firm PwC and industry body Assocham suggests that eCommerce firms are expected to spend up to USD 1.9 billion by 2017-2020 on infrastructure, logistics and warehousing.