E-tailing in India will be a $76 billion industry by 2021, management consulting firm Technopak has projected. In a white paper on FDI in retail, the firm has projected creation of additional 1 million direct jobs by the end of the current decade. E-tailing in India is currently a $0.7 bn industry, providing employment to near 11,000 people. Technopak says the industry is poised to grow manifold in the next decade due to the convergence of multiple factors that will enable the creation of an ecosystem for the take-off.
From the demand perspective, some of the enablers include internet access via broadband or high speed mobile networks, the availability and penetration of affordable smartphones and tablets. Also, creation of a sizeable consumption class that will be short of time for shopping through brick-and-mortar formarts would fuel growth, it states. Lack of access to affordable real estate will become the biggest enabler for the take-off, it states.
News source: Economic Times