Driven by sustained growth of the online travel booking industry and new business models for insurance and mutual funds sectors, India’s e-commerce market is poised to clip at over 50 percent this year, according to an industry data aggregator.
"We do expect over 50 percent growth in this calendar year depending on certain sectors. The online travel booking segment will be the major contributor to this growth," First Data Corporation vice-president and country manager Amrish Rau told PTI.
The total market size of the industry stood at INR46,520 crore (INR465.2 billion, USD8.33b) last year, a massive jump from INR8,147 crore in 2007, he said.
(Source: Business Standard)