E-commerce industry is likely to generate 2.5 lakh jobs in online retail this year, as the hiring in the sector is expected to grow at 60-65 per cent, says a report.
New Delhi: E-commerce industry is likely to generate 2.5 lakh jobs in online retail this year, as the hiring in the sector is expected to grow at 60-65 per cent, says a report. Majority of e-commerce departments and businesses have increased their turnover since last year and present a good opportunity for the industry to develop further, says the Assocham report.
India's e-commerce market was worth about USD 3.8 billion in 2009, it went up to USD 17 billion in 2014 and to USD 23 billion next year. It is expected to touch USD 38 billion mark by 2016, it said. "E-commerce industry is likely to generate nearly 2.5 lakhs jobs in the online retail in 2016 including temporary employees, supply chain, logistics, ancillary units etc," it said. There are nearly 3.5 lakh people working under e-commerce industry.
Also increasing smartphone ownership and investment from retailers are fuelling the rapid growth of mobile-commerce in India. Mobile-commerce (m-commerce) represents only 20-25 per cent of the country's e-commerce market. This share is expected to grow as businesses, including those operating in the online to offline space such as taxis and restaurants, look to seize greater market share.
It is also likely to be further accelerated by advancements in mobile technology and improvements in security and connectivity of shopping and payment platforms. "The hiring activities are expected to grow by over 60-65 per cent in this sector and may help create between 5-8 lakh employment opportunities in two to three years," Assocham Secretary General D S Rawat said.
The chamber said m-commerce is growing rapidly as a stable and secure supplement to the e-commerce industry. As per the report, one-third of MBA students from top business schools, including the IIMs, prefer working for the fledgling e-commerce sector, over traditional favourites like consulting and financial services jobs.
"India is successful in becoming the largest e-commerce market in the world. The rapid transformation in logistics, innovation, consumerism and productivity prove to be an interesting case study for other emerging economies," Rawat said.