Ecommerce market in India will be about $70 bn by 2020: Myntra

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Published: September 9, 2015 10:41:41 PM

The ecommerce market in India will be about $70 billion by 2020 and players will be investing around $1-2 billion over the next few years, largely in tier II cities and towns, a top official of Myntra said today.

The ecommerce market in India will be about $70 billion by 2020 and players will be investing around $1-2 billion over the next few years, largely in tier II cities and towns, a top official of Myntra said today.

He said the ecommerce market will be high on growth, which will help Myntra become profitable in segments, including fashion, and grow at about 65-70 per cent.

“Overall ecommerce market will be about USD 70 billion by 2020 and e-commerce companies will invest anywhere around USD 1-2 billion, largely in tier II cities and towns,” Myntra CEO Ananth Narayanan said during the Economist India Summit here.

He predicted that shopping will be redefined on the e-commerce platform in the next few years and people will continue to shop despite hurdles.

The Myntra boss felt access to credit is a potential catalyst for online retail industry.

Speaking at a separate session, Rohini Nilekani, Founder and Chairperson, Arghyam, a foundation for sustainable water and sanitation, appreciated the initiative taken by Prime Minister Narendra Modi to clean the Ganga.

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