Goldman has said in its report that by 2024, the e-commerce business in India will reach $ 99 billion due to a 27 percent CAGR growth.
New Delhi: Goldman has said in a report titled ‘Global Internet-E-Commerce Stepping Curve’ that India’s e-commerce business is expected to reach $ 99 billion by 2024. This will be due to the compound annual growth rate of CAGR of 27 percent in this business. By the year 2024, India will have a very large share in the world’s e-commerce market and there are huge possibilities in India for this business.
Reliance will
occupy half of the online grocery market, in addition to this, Goldman has made another big guess that Reliance Industries will capture half of the online grocery market for its retail business through Facebook. According to the report, the largest market-cap company in India is Reliance Industries, which has tied up with WhatsApp via Facebook for online grocery in the e-commerce sector. Geomart, created for RIL’s e-commerce business, plans to use Facebook’s WhatsApp to connect local grocery stores with consumers. Facebook has bought 9.99 percent stake in Reliance Industries company Jio Platforms. Let us know that Reliance Industries does its business in the petroleum, telecom and retail sectors.
The e-commerce business is growing in the world and in India,
during the Corona virus crisis, all types of businesses have suffered huge losses, while the business of e-commerce companies is seeing a strong growth. It has been reported in the report that the growth seen in the category of consumer packaged goods in just three months is almost equal to the growth of the last three years. In this way, the business of e-commerce companies has not decreased during this corona crisis, but only an increase has been seen.
More than 10 percent growth by
2024 is expected to see huge growth in online business by 2024 through various components of e-commerce business like retail, fashion, apparel. In this report, the possibility of reaching 10.7 per cent through the rapid growth of online access to retail has been expressed in this report. By 2024, the e-commerce business is expected to reach $ 99 billion and this will be due to a CAGR of 27 percent year after year.
