New Delhi [India], January 12 (ANI/ BusinessWire India): The Indian e-commerce industry has been driven by increasing mobile phone adoption. As of October 31, 2022, there are 1143 million mobile connections with 625 million urban and 518 million rural connections. A few trends that are set to further increase mobile commerce: - Launch and adoption of 5G network - Launch and adoption of ONDC (open network for digital commerce) - Quick commerce - Hyperlocal delivery The India e-commerce market size is estimated to be USD 75 billion in 2022 and has the potential to expand to USD 111 billion by 2024 and USD 200 billion by 2026, with a CAGR of 20-22 per cent. The online retail market in India is estimated to be 25 per cent of the total organized retail market and is expected to reach 37 per cent by 2030. India's social commerce gross merchandise value (GMV) is expected to reach USD 20 billion by 2026, with a potentially reach USD 70 billion by 2030. Amazon and Flipkart acco
Share on
From the heights of Flipkart s amazing $16 billion sale to Walmart, it s hard to imagine Binny Bansal was once going door-to-door delivering books for the Indian startup.
Binny s been through periods of rapid growth and equal amounts of challenges throughout his Flipkart journey. From hiring the right talent to getting the right categories and making strategic acquisitions - you could say that it all paid off.
Today, Binny lends his expertise and insight to scores of startups looking to embark on the very same startup journey he went on 13 years ago.
It was wonderful chatting with Binny in the latest episode of Evolving For The Next Billion, as we talked through the ups and downs of the Flipkart years, his insight on India s startup ecosystem and maturity, as well as his current role advising startups.