India's e-commerce market to reach $345 bn by 2030: Report

India’s e-commerce market is projected to grow from USD 145 billion in FY2025 to USD 345 billion by FY2030 at a CAGR of 19 per cent, driven by rising urbanisation, evolving consumer preferences, and increased adoption of digital payments, according to a report by Rubix.

- TBG NETWORK

In its industry insights report, the firm said that India has rapidly emerged as a global retail powerhouse, becoming the third-largest retail market in 2024. In FY2025, the country’s e-commerce sector recorded a Gross Merchandise Value (GMV) of USD 14 billion, marking a 12 per cent year-on-year growth. Despite this, e-commerce contributes only 7 to 9 per cent of total retail sales, indicating substantial room for expansion. According to the report, the beauty segment is the fastest-growing online category, fuelled by influencer marketing, rising digital use, and demand for personalised and convenient products. A 57.5 per cent rise in per capita net income over the last decade has supported increased di