eCommerce market in India

India is the 7th largest market for eCommerce with a predicted revenue of US$107,783.8 million by 2024, placing it ahead of Indonesia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 18.0%, resulting in a projected market volume of US$209,089.2 million by 2028. With an expected increase of 20.6% in 2024, the Indian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in India, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Indian eCommerce market. Electronics is the largest market and accounts for 23.7% of the Indian eCommerce revenue. It is followed by Hobby & Leisure with 20.8%, Fashion with 18.7%, Furniture & Homeware with 11.8%, Grocery with 9.3%, Care Products with 8.3%, and DIY with the remaining 7.5%.

Monthly revenues

Monthly revenues in the Indian eCommerce market

The monthly eCommerce revenue of the Indian eCommerce market was US$12,200 million in October 2024. This refers to a growth of 46.7% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in October 2024 with 11.3% of the total 2024 revenue of the Indian eCommerce market and the lowest in February 2024 with 7.1% of the total 2024 revenue.

Revenue Last Month

US$12,199.9m

The eCommerce revenue grew by 46.7% from September 2024 to October 2024.

10-2024+46.7%

Monthly revenue shares in the last 12 months

in %
0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)64.564.514.74.512.979.591.698.517.67.428.542.8

Market development

eCommerce revenue development in India

India is the 7th largest market for eCommerce with a predicted revenue of US$107,783.8 million by 2024, placing it ahead of Indonesia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 18.0%, resulting in a projected market volume of US$209,089.2 million by 2028. With an expected increase of 20.6% in 2024, the Indian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in India, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Indian eCommerce market. Electronics is the largest market and accounts for 23.7% of the Indian eCommerce revenue. It is followed by Hobby & Leisure with 20.8%, Fashion with 18.7%, Furniture & Homeware with 11.8%, Grocery with 9.3%, Care Products with 8.3%, and DIY with the remaining 7.5%.

eCommerce revenue development in India

in million US$

eCommerce revenue growth in India

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)84.846.278.577.776.937.137.022.4

Online share

eCommerce online share in India

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Indian retail market, the online share is 4.0% and will increase by an average of 7.4% to 5.3% by 2028.

eCommerce online share in India

in %
20202021202220232024202520262027
Online share (in %)28.2%7.8%29.0%88.3%15.3%30.7%25.1%60.4%

Top stores

Top five online stores in India by net sales 2023

The biggest player in the Indian eCommerce market is ajio.com. The store had a revenue of US$2,297.2 million in 2023. Store rankings include every store that generates revenue in India. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in India was considered.

eCommerce net sales generated in India in 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Payment Methods

Top 5 offered payment methods in the Indian eCommerce market

With 83.7% VISA the most commonly offered payment method of all online stores in the Indian eCommerce market in 2023. Like VISA Mastercard with a share of 83.7% and American Express with a share of 61.6% the payment type Cards is the most common used by online retailers in in the Indian eCommerce market in 2023. Other commonly used payment methods in that market are Bank transfer/cash in advance (Bank transfer) with 69.4% and Cash on delivery (Cash on delivery) with 63.6% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Indian eCommerce market

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Indian eCommerce market

Despite Blue Dart's dominant position with 52.2% of online stores opting for its services, the Indian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Delhivery, FedEx, Ecom Express, and DTDC, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Indian eCommerce market

in %