E-Commerce market in India has seen a substantial growth in the last 4-5 years. The pandemic catapulted the industry to a new high to an extent that India is expected to surpass US to be the second largest eCommerce market in the world by 2034. The key drivers of this shift are identified to be the majority middle class and the changing shopping habits. The demographical drift is complimented by the easier access to global products at competitive pricing and services at the tip of your finger. Online grocery deliveries and fashion are the largest contributors to this incremental growth.
The Indian eCommerce market was conventionally associated with non-essential products like Fashion and electronic products, but now there is an upward trend for products in essential products like groceries and healthcare. The rise of eCommerce is complemented by digital payments as it is convenient. The growth of eCommerce also has a cascading effect in developing an ecosystem which is directly impacting Micro, Small and Medium enterprises ranging from supply chain to Customer experience to other allied technologies.
India E-commerce Summit 2023 is organized to collaborate with the Industry thought leaders and decision makers from across the industry to discuss the new strategies for the evolving India.