In 2017, the growth in e-commerce was driven primarily by Flipkart and Amazon, which now together account for a majority of online retail. Online retail grew by 23% to $17.8 billion in 2017, up from $14.5 billion in gross merchandise value (GMV) last year, according to RedSeer Management Consulting, a market research and consulting firm. The expansion of online retail is likely to accelerate next year, with the market projected to increase by as much as 60% to $28-30 billion in GMV, according to RedSeer estimates. Companies and investors quickly realised that the Indian e-commerce market will not grow at the breakneck speed that the Chinese and American markets had seen. In 2017, the growth in e-commerce was driven primarily by Flipkart and Amazon, which now together account for a majority of online retail.

Source: Mint December 27, 2017 19:30 UTC