India’s online marketplaces to reach $350b in GMV by 2027

The country’s online marketplaces have contributed over $100b in GMV so far.

Online marketplaces in India are expected to more than triple and reach $350b in gross merchandise value (GMV) by 2027 with its rising online shopper base and the digitised micro, small and medium-sized enterprises (MSME).

In a report, Accel and Bain & Company said India’s online marketplaces contributed over $100b in GMV so far. Business-to-consumer (B2C) marketplaces were the single largest segment, accounting for around $50b.

In enterprise value, these marketplaces will create around $400b to $500b, accounting for over 5% of India’s gross domestic product by 2027. It will pave the war for 15 million MSMEs to grow their businesses online and create seven million jobs.

“Marketplaces have contributed to India’s growth story by offering greater access to capital and innovative financing solutions for traditionally underserved segments; enabled MSMEs to transact online, with an increased pan-India reach; and have provided employment opportunities to more than 3 million gig workers in India,” said Bain & Company Partner Arpan Sheth.

B2C e-commerce marketplaces will continue to dominate the online marketplaces and will account for $40% of the total GMV by 2027, reaching $55b. It is followed by online food delivery which will reach $22b.

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