India's eCommerce market to ready to hit $15 billion by 2016: Google

About 35 mn people prefer to purchase things like apparel, cosmetics, footwear, electronics and even furniture from online portals.
India's eCommerce market to ready to hit $15 billion by 2016: Google
New Delhi: According to a recent findings of tech giant Google, growing internet penetration and online shopping will drive the eCommerce market in India to USD 15 billion by 2016 with a whopping 100 million people shopping online.
 
In comparison with 8 million in 2012, about 35 million people prefer to purchase things like apparel, cosmetics, footwear, electronics and even furniture from online portals.
 
Expectedly, this figure of 35milliion people will grow three times to 100 million in the next two years. Of the 100 million online shoppers, about 40 million are expected to be women.
 
Already, women buyers in tier I cities are driving growth, outspending men by 2X.
 
It is estimated that India will see 302 million internet users by December 2014, overtaking the US as the world's second largest online user base.
 
Rajan Anandan, Managing Director, Google India told PTI, "The online shopper base will grow 3X by 2016 and over 50 million new buyers will come from tier I and II cities. The confidence to shop online is on the rise 
 
as 71 per cent non-buyers are from tier I and II cities said they plan to shop online in the next 12 months."
 
He further added, "India's eCommerce market is at an inflection point and will see rapid growth to become a $15 billion market by 2016."
 
According to a research conducted by Forrester Consulting across 6,859 respondents, the Indian eCommerce market is estimated to be about $3 billion currently. 
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