E-commerce market size to jump 4 times to $550 bn by 2035

PTI mumbai

The market size of India's e-commerce sector is estimated to jump more than four-fold to USD 550 billion by 2035, according to a report. In 2024, the market size of the e-commerce stood at USD 125 billion, the report said. Anarock and ETRetail released their joint report in Mumbai on Thursday. 

"Indian e-commerce is expected to touch USD 550 billion by 2035, growing at a CAGR (compounded annual growth rate) of 15 per cent. In 2024, the value of this vibrant and disruptive retail segment was estimated at USD 125 billion. It is likely to touch USD 345 billion by 2030-end," the consultant said in a statement.

Increasing internet penetration, smartphone adoption, digital payment infrastructure, and a young, tech-savvy population are driving this growth, Anarock said. Government initiatives like 'Digital India' and rapid improvements in the country's logistics and supply chain networks have further boosted its growth prospects.

"Besides the metros, e-commerce players are also tapping the growing demand from smaller towns and cities," said Anuj Kejriwal, CEO & MD, Anarock Retail. Meanwhile, he said the overall Indian retail industry's market size is expected to touch USD 2,500 billion by 2035, witnessing a three-fold increase compared to 2019.