Global analytical agency Crisil has crunched data to reveal that E-commerce or online retail shall prosper hitting Rs. 50,000 by 2016 by growing at a rate of 50–55% over the next 3 years. This shall be 30 times over the size at the end of FY’08 (financial year 2007–08).
The expansion shall be seen in both direct and indirect (market places) online retail. The fastest growing E-commerce industry’s revenues have grown from Rs. 1,500 crore in FY’08 to Rs. 13,900 crore in FY’13, a compound annual growth rate of 56%.
‘From around 8% share of the organised retail market in India now, online retailing will zoom to around 18% by 2016. But as a proportion of overall retail — including the massive unorganised segment — it will be just over 1% at the end of that year. Yet the potential is huge’, said Director – Industry Research – Rahul Prithiani.