AgenciesIndia’s consumer digital economy is forecasted to touch $800 billion by 2030, a new report by consulting firm RedSeer said. This is against $85-90 billion in calendar year 2020.
The report said the digital economy includes 60% of the overall travel business going through digital channels by calendar year 2030, and 25% of food and beverages services going digital by the same year.
RedSeer chief executive Anil Kumar said in a statement: "With the impact of Covid-19, digital services have served very well, which is evident in high customer satisfaction and willingness to keep using digital as a key channel to meet their needs. The next wave of entrepreneurs will create innovations which will make the Indian model successful globally.”
RedSeer said Indian online retail is set to become the third-largest market by scale over the next decade, with an annual gross merchandise value (GMV) of $55 billion in calendar year 2021 and $350 billion after another ten years.
The report said the digital economy includes 60% of the overall travel business going through digital channels by calendar year 2030, and 25% of food and beverages services going digital by the same year.
RedSeer chief executive Anil Kumar said in a statement: "With the impact of Covid-19, digital services have served very well, which is evident in high customer satisfaction and willingness to keep using digital as a key channel to meet their needs. The next wave of entrepreneurs will create innovations which will make the Indian model successful globally.”
RedSeer said Indian online retail is set to become the third-largest market by scale over the next decade, with an annual gross merchandise value (GMV) of $55 billion in calendar year 2021 and $350 billion after another ten years.
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