India`s e-commerce market likely to grow over 150 pc by 2030
The domestic e-commerce market is expected to grow by more than 150 per cent within four years, driven by the addition of 150 million new digital shoppers and a doubling of per capita spending, according to a new report.
According to the joint report by Google and Deloitte, the online business market is undergoing a major transformation and projected to grow to $250 billion by 2030 from about $90 billion at present -- a 177 per cent jump.
The report also highlighted that a 220-million-strong Gen Z cohort is expected to account for 45 per cent of online spending, accelerating the shift towards AI-powered shopping experiences.
It pointed out '4I' key growth drivers -- Inspired, Intelligent, Instant and Immersive -- which are projected to contribute around $100 billion to the overall growth of the sector by 2030.
Roma Datta Chobey, Managing Director, Connected Consumer Commerce at Google India, said that Indian commerce is at a pivotal moment driven by evolving consumer expectations around storytelling, AI-led personalisation and instant fulfilment.
“At Google, we are committed to empowering this ecosystem through intelligence and trust, streamlining the journey from discovery to purchase,” she said.
Anand Ramanathan, Partner and Consumer Industry Leader, South Asia at Deloitte, said the sector is moving from mass marketing to an era of ‘algorithmic intimacy’, where demand is predicted and shaped in real time.
He added that Gen Z consumers are driving the rise of ‘generative commerce’, where AI curates or creates solutions based on consumer needs.
The report further stated that creators are likely to influence 30 per cent of total retail spending by 2030, with one in ten online purchases expected to be linked to creator storefronts, particularly in Tier 2 and smaller markets.
Moreover, live commerce is projected to grow into an $8 billion segment, while quick commerce is expected to expand into a $50 billion market with a user base of around 70 million.
Meanwhile, artificial intelligence (AI) could drive up to 35 per cent increase in retail profitability by enabling hyper-personalisation and improving operational efficiency, according to the report.
