Mumbai: Domestic e-commerce market has
the potential to grow between USD 125 billion and USD 260
billion by 2024-25, according to an industry report.
The report, `E-commerce: A boon for the current economic
downturn` by First Data Corporation and ICICI Merchant
Services, says urban Indian consumers are now confident enough
to make online purchases of up to Rs 25,000, from Rs 2,000-
5,000 in the recent past.
"With different levels of adoption, the e-commerce market
has the potential to grow anywhere between USD 70 billion and
USD 150 billion under one scenario, and at a more robust
growth scenario it can grow between USD 125 billion and USD
260 billion by 2024-25," it says.
On the global level, the report says Brazil, US, Europe
and China are showing tremendous growth. China is expected to
add the equivalent of the entire population of Canada as
e-shoppers in each of the next four years.
It also says that even though there are only under-10
million internet users who actually buy online in India, there
are about 150 million internet users or around 75 million
households that are `ready` for e-commerce.
According to the report, almost 57 percent of e-commerce
sales come from small towns, while the eight metros account
for the remainder.
According to IAMAI, the sectoral umbrella body, current
e-commerce market in India is around USD 10 billion, while US
e-commerce market is set to touch USD 200 billion in 2013,
growing at 17 per cent.