India’s e-retail market set to reach $190 billion GMV by 2030: Bain report

India’s e-retail market is projected to triple to $170–$190 billion in gross merchandise value (GMV) by 2030, owing to an expanding shopper base and newer business models, according to a report by Bain & Company and Flipkart.

The report highlighted India’s position as the world’s second-largest e-retail shopper base, with over 270 million online shoppers in 2024. The market, currently valued at $60 billion, has slowed to 10–12 per cent growth in 2024 from over 20 per cent in previous years due to stress in consumption and discretionary spending owing to macroeconomic headwinds.