New Delhi: The National Association of Software and Services Companies (NASSCOM) Strategic Review 2018, in the Information Technology and Business Process Management (IT-BPM) sector in India, said that the Indian e-commerce market grew 17 percent to USD 38.5 billion in the financial year 2018-19.
It was USD 33 billion in 2017-18. As per the Economic Survey 2017-18, the electronic commerce (e-commerce) market in India is estimated at USD 33 billion, with a 19.1 percent growth rate in 2016-17.
As per extant Foreign Direct Investment (FDI) policy, FDI up to 100 percent is permitted under automatic route in companies engaged in e-commerce provided that such company engaged only in Business to Business (B2B) e-commerce.
Further, 100 percent FDI under automatic route is permitted in marketplace model of e-commerce but FDI is not permitted in inventory based model of e-commerce. For foreign investment in sectors under automatic route, no prior permission of the government is required.