A report by Goldman Sachs last year had suggested that India’s overall e-commerce market was expected to breach the $100-billion mark by 2020. It had said the overall online market in the country including travel, payments and retail could reach $103 billion, of which the e-tail segment would be valued at $69 billion. “E-tailing in India is at an inflection point and will touch 175 million online buyers by 2020. The next three to four years would be critical for the sector to get on the path of sustained profitability. With a strong consumer base of around 175 million, Indian e-commerce could reach $60 billion in gross merchandise value (GMV) by 2020, Google and AT Kearney said in a report titled Digital Retail 2020. The estimates are less than that projected by US investment bank Goldman Sachs last October, which pegged the e-tail segment to be valued at $69 billion. Online retail in India has much room for growth. B2C E-Commerce share of total retail sales was estimated at less than 1% in 2014, while the share of Internet users making purchases online was below one quarter. Another sign of immaturity is the high share of online travel in total E-Commerce sales, reaching close to two-thirds according to some estimates.​

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