Awareness is key to increase the online transactions market in India, according to Rajan Anandan, managing director of Google India.
The Indian e-commerce market is pegged at $6 billion and is expected to reach $30 billion by 2015. While the e-commerce market in China has already crossed $100-billion with 180 million people transacting online.
“India currently has 137 million internet users, of which only 25 million are involved in online transactions. The country has a huge potential in the segment, as apart from major cities, there is demand from smaller towns and Tier-II and III cities. Increase in awareness along with brand and trust building among enterprises will drive the growth in the segment,” he said.
Around 10 million people buy air tickets online and seven million buy e-commerce products in India, according to him.
Digital ad market to touch Rs 2,500 cr this year
The digital advertising market in India is expected to reach Rs 2,500 crore by the end of this year from the Rs 1,500-crore market last year, he said.
“With the increasing awareness on digital presence among companies including small and medium businesses, the sector is expected to grow at a faster rate,” he said addressing the media on the sidelines of ISB Digital Summit 2012 held here recently.