According to the report, a majority of e-commerce departments and businesses have increased their turnover since last year and present a good opportunity for the industry to develop further.
India’s e-commerce market was worth about $3.8 billion in 2009; it went up to $17 billion in 2014 and to $23 billion the next year. It is expected to touch $38 billion by 2016, it said.
“E-commerce industry is likely to generate nearly 2.5 lakhs jobs in the online retail in 2016 including temporary employees, supply chain, logistics, ancillary units etc.,” the report read.
There are nearly 3.5 lakh people working under the e-commerce industry. Also, increasing smartphone ownership and investment from retailers are fueling rapid growth of mobile-commerce in India.
Mobile-commerce, or ‘m-commerce’, represents only 20-25 per cent of the country’s e-commerce market. This share is expected to grow as businesses, including those operating in the online to offline space such as taxis and restaurants, look to seize greater market share.
It is also likely to be further accelerated by advancements in mobile technology and improvements in security and connectivity of shopping and payment platforms.
As per the report, one-third of MBA students from top business schools, including the IIMs, prefer working for the fledgling e-commerce sector over traditional favourites like consulting and financial services jobs.
“India is successful in becoming the largest e-commerce market in the world. The rapid transformation in logistics, innovation, consumerism and productivity prove to be an interesting case study for other emerging economies,” Assocham General Secretary, D S Rawat was quoted by agencies as saying.