The "e-Conomy India 2023" report, a collaboration between Google, Temasek, and Bain & Company, underscores the shifting consumer behavior and evolving business landscape driving this momentous growth. Among the ten key consumer sectors, Business-to-Consumer e-commerce is expected to maintain its leading position in digital services, projected to grow five to six times and reach approximately $350-380 billion by ______.

Solution

The "e-Conomy India 2023" report, a collaboration between Google, Temasek, and Bain & Company, underscores the shifting consumer behavior and evolving business landscape driving this momentous growth.   According to the report, India's rapidly expanding internet economy is anticipated to reach a staggering valuation of $1 trillion by 2030, a significant surge from the estimated $175 billion in 2022. As a result, the contribution of the Internet economy to India’s GDP will increase from 4 to 5 per cent, as of now, to around 12 to 15 per cent.     Among the ten key consumer sectors, Business-to-Consumer (B2C) e-commerce is expected to maintain its leading position in digital services, projected to grow five to six times and reach approximately $350-380 billion by 2030.      The report also forecasts a doubling of online shoppers in India by 2030, with over 60 per cent of new shoppers emerging from smaller towns.