CCI report on E-Commerce Market of India
On January 8, 2020, the Competition Commission of India (CCI) released its report on “Market Study on E-Commerce in India: Key Findings and Observations”. The market study for the report was initiated in April 2019 by CCI.
According to the report, the number of internet users have increased from 445.96 million in 2017 to 665.31 million in 2019. This is the primary reason for the fast growth of the E-Commerce sector in the country.
Key Findings of the Report
- The revenue from the E-Commerce sector is growing at the rate of 51%.
- In July 2018, the number of online transactions in the E-Commerce sector was 1 to 1.2 million per day.
- Between 2016 and 2019, the delivery market places in food industry raised by 90%. Also, the food industry is no longer a metro phenomenon. It grew in non-metro cities as well.
- The online travel booking is growing at 16% since 2016.
- The E-Commerce Sector was established in 2009. However, the sector gained momentum in 2014. In 2017, the sector held 3,500 million USD investment. There are around 4757 E-commerce start-ups in India today in 2019.
- To reduce information symmetry and increase transparency. This will increase competition among the stake holders.
- To set out terms and conditions that will prevent the business users from influencing search ranking.
- To set up a transparent policy on data collection of customers, product rating policies.
Category: Reports & Indexes Current Affairs