E-commerce industry growth 2016

Mumbai: E-commerce industry in India which was expected to cross US $ 29.5 billion mark last year, reportedly noted just 12 per cent surge to reach US $ 14.5 billion in revenue. E-commerce market in India grew by 180 per cent to become a US $ 13 billion sector in 2015. This has been revealed in a study report by RedSeer Consulting. Established Indian e-commerce giants like Flipkart and Snapdeal faced the biggest impact of this “adverse market condition”. After witnessing a slow growth rate in 2016, these companies are expecting an increase in business to US $ 80 billion sector by the year 2020. Amazon however captured a big chunk of the aggressively-contested industry.