India e-commerce payments to surge by 23.8% in 2024, forecasts GlobalData

The Indian e-commerce market is growing at a fast pace and is forecast to surge by 23.8% in 2024, driven by growing consumer preference for online shopping and strong internet penetration, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s E-Commerce Analytics reveals that India’s e-commerce market value is set to increase at a compound annual growth rate (CAGR) of 18.7% from INR12.2 trillion ($147.3 billion) in 2024 to INR 24.1 trillion ($292.3 billion) in 2028.