The scope of E-Commerce Sector will increase to Rs 7 lakh crore

The scope of E-Commerce Sector will increase to Rs 7 lakh crore

The country’s e-commerce segment has benefited from the increase in shopping volume on the online platform and the changing mindset of the customers. According to a recent report, the scope of e-commerce segment will increase from Rs 2 lakh crore in 2019 to Rs 7.3 lakh crore by 2024.

It is to be noted that the development of e-commerce segment has been quite satisfactory in the last one decade due to the availability of internet and increase in the power of smartphones.

According to the data, the country’s retail sector was able to generate around Rs 7.9 lakh crore in 2009-19, compared to the e-commerce segment in 2010. The range was Rs 7,000 crore, which will increase to Rs 2 lakh crore in 2023.