Indian Ecommerce To Grow 28% Per Year For Next 4 Years

A report by Worldpay has predicted that the Indian ecommerce market will grow by 28% every year for the next 4 years, to be worth almost 64 billion US dollars by 2020. This would make it the second biggest ecommerce market in the world, ahead of the US and behind only China. Behind this predicted rise is India's large youth population, increasing internet penetration, increasing smartphone penetration and rising wages. By 2020, there will be an estimated 730 million Indians online, many of these being mobile-first internet users. To take advantage of this massive upcoming ecommerce opportunity, Worldpay recommends that businesses targeting India keep an eye on the ecommerce payments market and offer payment solutions that match. Currently, cash-on-delivery is the most popular payment option in India, but with a rising smartphone population, businesses would be wise to offer mobile payment methods as well.