India Named As World's Fastest Growing Ecommerce Market

India's online sales are set to reach $64 billion in 2021

India has been revealed as the fastest growing ecommerce market in the world. A survey from Forrester Research has shown that the country's online sales reached 16 billion US dollars in 2016, something which is expected to reach 64 billion US dollars in 2021. This would represent a 31% year-on-year growth in the market, compared to the 9% growth expected in China. However, Satish Meena, an analyst at Forrester Research, has said that India will take more than 10 years to reach the same level of ecommerce spend as countries such as the US and China. Due to China's mature market, she said that “it is unfair to compare China and India” but said the Indian ecommerce customer would “evolve at their own pace, in the next 10 years, with more disposable income”. Meanwhile, the study also found that the total ecommerce market in the Asia Pacific region is set to be worth 1.4 trillion US dollars in 2021, 78% of which will be from sales made on a mobile device. 

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