E-tail market to grow more than three times to $190 billion by 2030

THE domestic e-tail market, which has already become the world's second-largest online shopper base, is projected to grow at least three times to reach $170-$190 billion in gross merchandise value by 2030, from $60 billion in 2024, says a report.

- ENS ECONOMIC BUREAU @ Mumbai

As per a report by Bain & Company and e-tail major Flipkart, the country has already emerged as the second-largest e-retail shopper base globally, with a shopper base of over 270 million in 2024. The domestic retail market was over $1 trillion in 2024, and continues to be a critical channel even as the online channel grows, added the report, which has also noted that the continuing slowdown in consumption has slowed down retail growth to 10-12% in 2024, compared to historical growth rates exceeding 20%.