It is fair to say that India was a little late to the e-commerce party. Until recently, low rates of internet penetration among both consumers and smaller businesses alike held back online sales. Now, however, business is booming, particularly for marketplaces – new research suggests India’s online marketplaces could be making sales worth as much as $350 billion a year by 2027.
That forecast, from a new report published jointly today by consultant Bain & Company and the global venture capital investor Accel, would represent a tripling of the size of the market from current levels. Online marketplaces currently generate a little over $100 billion of sales, Bain and