The e-commerce market in India is set to grow at a CAGR of 19.6% between 2019 and 2023, according to GlobalData The lockdown triggered by covid-19 is set to grow India’s e-commerce market to ₹7 trillion by 2023, according to GlobalData, a London-based data analytics firm. “The growth of Indian e-commerce market has been revised up, considering the positive push due to the coronavirus (covid-19) outbreak," said GlobalData estimates on Friday.
The e-commerce market in India is set to grow at a compound annual growth rate of 19.6% between 2019 and 2023, according to GlobalData.
As consumers move from in-store to online spending to avoid exposure to disease vectors, such as cash and point-of-sale terminals, e-commerce payments are set to