Internet Economy

Shriram Subramanian said as India becomes a $5 trillion economy, e-commerce will continue to annually grow at about 25 per cent per annum from $60 billion in FY2023

India's internet economy is expected to register six-fold growth and touch USD 1 trillion by 2030, mainly driven by the e-commerce vertical, a joint report by Google, Temasek and Bain & Company released on Tuesday said. The report estimates that India's internet-economy was in the range of USD 155-175 billion in 2022. According to the report, the growth will be led by the B2C e-commerce segment, followed by B2B e-commerce, software-as-a-service providers and online media led by over-the-top players. "India's internet economy is expected to grow 6 x to USD 1 trillion by 2030," Google India, Country Manager & Vice President, Sanjay Gupta said while sharing details of the report. He said most of the purchases in future will take place digitally. Gupta said while startups have led the path on digital innovation, small and medium businesses and large enterprises after the pandemic have started to use digital technologies to become more competitive. According to the report, B2C ...

The expansion is being fueled by a rapidly increasing internet penetration rate, high-speed internet access, and increased online shopping and digital content consumption

Gig economy made itself known during the pandemic. The recent Fairwork ratings highlighted how well or poorly these workers of unorganised sectors were being treated by companies. A report

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E-commerce and financial services is expected to comprise $40 to $50 billion