In recent years India has experienced a boom in internet and smartphone penetration. As of November 2024, India has around 944.7 million wireless internet subscribers, which is increased from 941.5 from October 2024. The smartphone base has also increased significantly and is expected to reach 1.1 billion by FY25. This has helped India’s digital sector, and it is expected to reach US$ 1 trillion by 2030. This rapid rise in internet users and smartphone penetration coupled with rising incomes has assisted the growth of India’s e-commerce sector. India’s e-commerce sector has transformed the way business is done in India and has opened various segments of commerce ranging from Business-to-Business (B2B), direct-to-consumer (D2C), Consumer-to-Consumer (C2C) and Consumer-to-Business (C2B).
Major segments such as D2C and B2B have experienced immense growth in recent years.
India’s e-commerce industry, valued at Rs. 10,82,875 crore (US$ 125 billion) in FY24, is projected to grow to Rs. 29,88,735 crore (US$ 345 billion) by FY30, reflecting a compound annual growth rate (CAGR) of 15%.
According to a joint report by real estate consulting firm ANAROCK and retail news platform ETRetail, the sector is further expected to reach Rs. 47,64,650 crore (US$ 550 billion) by FY35, driven by increasing digital adoption and evolving consumer behaviour.
The Indian Beauty and Personal Care (BPC) market is experiencing rapid growth, projected to reach a GMV of Rs. 2,60,610 crore (US$ 30 billion) by CY27. This represents 5% of the global beauty industry. The market is expanding at an annual growth rate of around 10%, making it the fastest-growing BPC market among major economies.
(Source: https://www.ibef.org/industry/ecommerce)