The e-commerce business in India has increased by over 80% in 2013 and is expected to reach around $50-70bn by 2020, according to Flipkart co-founder and CEO Sachin Bansal.

The growth will be driven by fast growing internet-connected population and improvement in infrastructure like payment and delivery systems.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Bansal said online retail business will lead the industry’s growth in the coming years.

"Consumer mentality and shopping patterns are changing very fast. Online shopping is going to become main stream in the coming five-six years," Bansal added.

According to a report by KPMG and Internet and Mobile Association of India (IAMAI), the Indian e-commerce business was around $13bn in 2013, where online travel segment accounted for 70% of the total consumer e-commerce transactions.

See Also:

Bansal said smartphones would be the biggest online shopping driver in the coming years.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"Tier-II and Tier-III cities are opening up very rapidly. By 2020, you will have e-commerce penetrated everywhere, whether it is smaller cities or rural areas," Bansal added.

Flipkart, which currently accounts for nearly one-third of online retail business in the entire country, aims to be a $20bn company by 2020.

Flipkart co-founder Binny Bansal said they are investing a lot on technologies, especially on mobiles and the supply chain.

"We have raised a good amount of funding this year. We are well funded for the foreseeable future. However, we will continue to raise funds as and when required," Binny added.