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Insurance: Best Insurance Policy, Life Insurance, Car insurance, health insurance in India

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Insurance: Best Insurance Policy, Life Insurance, Car insurance, health insurance

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E-commerce in India

The e-commerce in India was $147.3 billion in 2024, with 18.7% CAGR through to 2028 which will be further fueled by the technology innovations (5G & 6G based higher internet speed, AI and ML based hyper-personalized shopping experience, immersive AR and VR virtual try-ons and virtual stores, blockchain based enhanced supply chain transparency and increased trust among consumers), cheaper data rates, rising smartphone adoption, increased market penetration (Tier II and Tier III cities which contribute 60% of business and Direct-to-consumer (D2C) brands grew from 2% five years ago to now 15 % with projected future CAGR of 40 %), and evolving consumer behaviors (12% growth in Gross Merchandise Value (GMV) and 23.8 % growth in digital payments fueled by UPI. By 2027, the number of Indian ecommerce consumers will 400 million as compared to 312.5 million in 2022. India had an Internet user base of about 690.0 million in 2023, about 40% of the population. Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every month.