State Of Indian Ecommerce Report Q2 2023

The total addressable market for the Indian ecommerce sector is expected to reach $400 Bn by 2030, growing at a…

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State Of Indian Ecommerce Report Q2 2023

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights

$400 Bn

Estimated Indian Ecommerce Market Opportunity By 2030

$5.9 Tn+

Estimated Global B2C Market Opportunity By 2030

$533 Mn

Total Funding In Ecommerce Startups In Q1 2023

$2 Mn

Median Ticket Size Of Ecommerce Funding Deals In Q1 2023

Table Of Contents

  • India’s Digital Economy In A Nutshell
  • Ecommerce Market In India: A Snapshot
  • India’s Ecommerce Landscape: Key Players
  • India’s Ecommerce Opportunity
  • Total Market Size
  • Market Size Across Sub-Sectors
  • Ecommerce In India: Key Growth Drivers
  • India’s Ecommerce Startup Ecosystem
  • India Vs China Vs The US: A Comparison Of Ecommerce Startup Ecosystems
  • Ecommerce Funding Trends
  • Ecommerce M&A Trends
  • 10 Biggest Funding Rounds Raised By Ecommerce Startups In Q1 2023
  • Top Ecommerce Sub-Sectors In Q1 2023
  • Top Ecommerce Startup Hubs In Q1 2023
  • Notable Ecommerce Startup Investors In Q1 2023
  • InFocus: Cross Border Ecommerce
  • The State Of Global Cross Border Ecommerce
  • India’s Top Export Partners In 2022
  • Cross Border Ecommerce Value Chain
  • Landscape Cross Border Ecommerce
  • Top Exports Products And Top Export Cities
  • Cross Border D2C Landscape
  • Cross Border D2C Financial Analysis
  • Cross Border D2C Survey
  • Ecommerce Startups’ Stock Performance
  • Key Challenges Of Ecommerce In India


In spite of a 67% decline in funding and a 62% drop in deal count in Q1 2023, the future for Indian ecommerce looks strong as its adoption rate is increasing across the country. Ecommerce has not yet reached its full potential in Tier 2 and 3 cities, and companies are now coming up with differentiated strategies to cater to these locations. The ecommerce industry is rapidly expanding, and the Direct-to-Consumer (D2C) subsector is making significant strides in the market. In Q1 2023, D2C emerged as the most funded subsector within ecommerce, receiving 87% of investor funds. It has also seen the highest number of deal counts, reflecting the growing interest of investors in D2C businesses Meanwhile, “cross-border ecommerce" is expected to be a significant growth driver for Indian ecommerce startups, with a market opportunity for global B2C cross-border estimated to be $5.9 Tn by 2030. This route allows ecommerce startups to reach a larger consumer base and offer more diversified consumer experiences. Nevertheless, cross border has certain challenges as it requires significant capital investment, efficient logistics inventory management, and compliance with regulations.

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