A report by Internet and Mobile Association of India in association with IMRB Kantar has projected that the Indian digital commerce sphere is expected to rise to Rs 2.37 lakh crores by December 2018. The report identifies e-commerce, travel and utilities as the sectors driving the growth story. It has been noted that digital commerce recorded a 34 per cent CAGR (compound annual growth rate) between December 2011 and December 2017.
The report estimates that the online travel industry constitutes 54 per cent of the overall digital commerce market and within the travel segment it is air and rail bookings which power the same. Outside travel, e-tail, utility services and matrimony and classifieds contribute significantly to the digital commerce pie.
Other online services like bookings for entertainment, grocery and food delivery have also showed healthy growth with groceries contributing maximally in this space. The report was also bullish on the growth prospects of digital commerce and noted that an estimated 295 million people were online in urban India at the end of 2017. It is expected that with a steep drop in mobile internet prices, more Indians would engage in online shopping contributing to the rosy forecasts for the sector.
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