India Internet GMV hits $65bn in 2020: Report By IANS | Published on Fri, Jan 22 2021 20:12 IST | 0 Views
Bengaluru, Jan 22 : The overall India Internet gross merchandise value (GMV) grew to $65 billion in 2020, and is now creating a large impact on the overall economy with almost 4.6 per cent of total private consumption coming from India Internet, suggests research from homegrown consulting firm RedSeer. "2020 has truly been a landmark year for India's consumer internet economy," said Anil Kumar, Co-founder and CEO of RedSeer. "We expect India Internet to accelerate further in 2021, driven by massive growth in consumer adoption and satisfaction in 2020 across sectors -- with India Internet expected to cross triple digits GMV for the first time in 2021 and eventually become $250 billion scale and 10 per cent of private consumption in 2025."