India Set to Be Second Largest Ecommerce Market

India looks set to overtake the US and become the largest ecommerce market in the world after China. New research from Worldpay suggests that even though the country accounts for less than a single percent of the global ecommerce market for the time being, a 28% annual growth rate for at least the next four years should see the country catapulted into second place. Worldpay has said that this high level of growth is likely caused by a young, growing middle-class, most of whom are connecting mobile-first. Wages in the country have also been rising, by 10% just this year. This means that with more disposable income, younger and richer consumers will be able to connect to India's online economy. With these factors added together, it is forecasted that by 2020, there will be 750 million Indians online.