$400 Bn

Indian Ecommerce Industry Will Be Driven By The Fashion Segment In 2030

Total Funding In Ecommerce Startups From 2014 To H1 2023

$33 Bn+

Key Highlights

The total addressable market for Indian ecommerce is projected to reach $400 Bn by 2030, expanding at a CAGR of 19% from 2022. Since 2014, the sector has attracted over $33 Bn in investments and is home to 25 unicorns and 14 soonicorns.

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However, the sector has shown some vulnerabilities; the second quarter of 2023 marked a substantial downturn, witnessing a sharp 71% drop in total funding and a 50% decline in year-over-year deal count.

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Conversely, the rise of ecommerce in Tier II cities and beyond is shaping India's ecommerce landscape in a promising way. A slew of D2C brands from these regions is generating buzz and poised to make meaningful contributions to the sector.

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This report offers an in-depth look at India's current ecommerce climate, with a special focus on the emerging startups that are making waves within the industry. It highlights the impressive growth of startups originating from Tier II cities and beyond, thereby shedding light on a new frontier in Indian ecommerce.

State Of Indian Ecommerce Report Q3 2023