Retail 9/07/22 Affichages : 2059

e-commerce market to reach $120 bn by'26: FICCI & property consultancy report

Retail 9/07/22 Affichages : 2059

09 July 2022, Mumbai:

Indian e-commerce market is expected to reach $120 billion by 2026 from as low of $38 billion in 2021, says a report by FICCI and property consultancy. This exponential rise will fuel the economic growth of the warehousing and logistics sector in the country, adds the report.

As per the report, the market size of retail segment is estimated to grow to more than $1. 8 trillion by 2030 from $705 billion in 2020.

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Additionally, COVID-19 has accelerated the growth of e-commerce across India. Online shopping has increased significantly in Tier-II and Tier-III cities as well due to the easy availability of the internet on cheaper tariffs and restrictions on physical movement during the time of the pandemic.

This improved trend has provided an impetus to the warehousing and logistics sector beyond tier-I cities. The constant push and ambitions for infrastructure development and policy support provided by the government is expected to ride the next wave of growth for the industrial, warehousing, and logistics sectors in India, it added.

Several companies are now looking to shift their base away from China, or are keen to open a new manufacturing facility in other countries, and India too is a top contender.

The FICCI-Anarock report said that demand for office spaces in the key office hubs will be fortified with companies planning a steady return of employees to offices despite the pandemic coupled with positive hiring intentions during the second quarter of 2022.

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