E-commerce - #SectorUpdates
The Government will stabilize its E-commerce firm ONDC and address the data privacy concerns before bringing a proposed e-commerce policy, as per official sources. The E-commerce policy is expected to impact the Indian E-commerce market, which is projected to touch USD 188 billion in 2025 from USD 64 billion in 2020. E-commerce in India is expected to grow at a rate of 25-30% annually for the next five years, with a steady increase in the user base that is estimated to beat the second largest e-commerce shopper base – the United States – in the next one or two years, according to a report. The online shopper base in India, which was at 180-190 million in 2021, will also increase to about 400-450 million users by 2027 when the industry is estimated to be valued at over $150 billion. The Government has introduced the Open Network for Digital Commerce (ONDC) to expand the E-commerce ecosystem.