India’s e-retail market expected to reach over $160 billion by 2028 from $57–$60 billion in 2023

E-retail in India is expected to scale beyond $160 billion in value by 2028, said a report released by Bain & Company in collaboration with Flipkart. The market, it said, has experienced strong growth post-pandemic, with an estimated value of $57–$60 billion in 2023. This represents an annual addition of $8-$12 billion since 2020. “The e-retail market is poised to grow in the coming years, with online spending currently only 5–6 per cent of total retail spending in India vs 23–24 per cent in the US and +35 per cent in China, indicating massive headroom for growth,” according to the fourth (2023) edition of How India Shops Online, released by Bain & Company in collaboration with Flipkart.