Key Points
India currently has a total of over 700 million internet users and this includes 350 million digital payment users and 220 million online shoppers..
India will see household consumption doubling by 2030, the report said.. Indias internet economy is expected to register a six-fold growth to reach $1 trillion by 2030, driven majorly by e-commerce verticals..
Indias internet economy is expected to grow 6x to $1 trillion by 2030,said Sanjay Gupta, Country Manager & Vice President, Google India..
According to India e-Conomy Report jointly published by Google, Bain & Company, and Temasek, a continued shift in consumer and merchant behaviour, matched with strong investor confidence, has ushered India into its Digital Decade and set the country on a path to reach a $1 trillion internet economy by 2030..
According to the India e-Conomy Report, B2C e-commerce is expected to grow 5-6 times to $350-380 billion by 2030, B2B e-commerce is expected to grow 13-14 times to $105-120 billion, and the software-as-a-service segment is expected to grow 5-6 times to $65-75 billion by 2030.Indian consumer habits have been shifting over the past few years, with three standout digital behaviours: 1) the widespread preference for digital interactions; 2) convenience and value are key drivers; and 3) sustainability is increasingly top of mind, it said.. Furthermore, India is also leading in the world in online video streaming, digital payments and time spent on social media, followed by the United States in overall time spent online per user per day.The report added that while 220 million people shopped online, 110 million made purchases in online games, 65 million ordered food online, 80 million households paid utility bills online, 25 million used online ride-hailing services, 15 million have paid for an online course...
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