India’s internet economy to grow 6x to $1 trillion by 2030, says Google, Bain & Company and Temasek report

India’s internet economy is expected to register a six-fold growth to reach $1 trillion by 2030, driven majorly by e-commerce verticals. “India’s internet economy is expected to grow 6x to $1 trillion by 2030,” said Sanjay Gupta, Country Manager & Vice President, Google India. He said most of the purchases in future will take place digitally. According to ‘India e-Conomy Report’ jointly published by Google, Bain & Company, and Temasek, “a continued shift in consumer and merchant behaviour, matched with strong investor confidence, has ushered India into its ‘Digital Decade’ and set the country on a path to reach a $1 trillion internet economy by 2030.” India currently has a total of over 700 million internet users and this includes 350 million digital payment users and 220 million online shoppers. India will see household consumption doubling by 2030, it said.