Indian Ecommerce Growth Held Back By Logistics Cost: World Bank

Indian Ecommerce Growth Held Back By Logistics Cost: World Bank

SUMMARY

Indian ecommerce bound to grow at CAGR of 18% between 2019-2023

Fast-moving products such as jewellery are exported every five seconds, the WB said

Makemytrip, Yatra, Oyo and Ola emerged as leading online platforms in India

Despite the rapid growth of ecommerce in India, especially with the advent of hyperlocal and next-day delivery, there is still a lot of untapped potential in the market. According to a World Bank report, Indian ecommerce only makes up 1.6 % of the total retail sales in the country. The report also highlights that India will have the fastest growth in ecommerce retail with a compound annual growth rate (CAGR) of almost 18% between 2019–23.

In comparison, in China, the ecommerce sector accounts for 15% of the total retail in the country and around 14% of the total retail around the globe. The report, Unleashing E-Commerce for South Asian Integration, has highlighted the concerns of the South Asian firms regarding ecommerce.

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