Revenue from e-commerce in India to touch 52 billion by 2022

The revenue from e-commerce amounted to $25 billion in India in 2017, and is likely to grow by 20.2% per year to hit $52 billion by 2022, says a report.

According to a report by Admitad, in 2017, 37% of the population comprised of internet users, 14% of whom made online purchases regularly. This population's share of internet users is expected to grow to 45% by 2021. The number of online buyers is expected to grow to 90%. Most purchases (56%) are made via desktop. Smartphones account for 30% of purchases, said the digital and affiliate marketing company's report.

However, with mobile penetration expected to reach 54% of the population by 2020, m-commerce has a high potential in India, and will likely be responsible for 70% of e-commerce revenue. The report noted that about 57% of Indians prefer to pay on delivery, while 15% prefer to pay with debit cards, and 11% credit cards. "However, this is all likely to change in the near future. With a growing number of mobile users and the government encouraging citizens to use non-cash payment, there should be an increase in digital transactions in the coming decade," it said.

Interestingly, India ranks second in the world for the number of internet and smartphone users, outpacing the US. Meanwhile, China is the global leader in terms of number of internet users and online buyers. In 2017, the percentage of internet penetration rose to 53%. Even more, 42% of the population made online purchases regularly.