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Accelerate your revenue with a new audience of customers throughout India - without friction or complexity.
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A superpower, with a large middle class, a democratic political system, and a STEM-oriented education system that produces millions of digitally literate students every year. While sometimes lost in the shadow of China, U.S. and Europe, businesses sometimes ignore the domestic Indian market at their own peril.
Online shoppers in India reached 120 million in 2018 and are expected to reach 220 million by 2025. In 2020, the Indian ecommerce grocery market saw a 76% year-over-year increase (much due to Covid-19). Indian has over 800 million smartphone users, is the fastest growing smartphone market (as compared to the top 20 smartphone using countries), and is expected to see an ecommerce increase of over 1,200% within six years.
Cash on delivery remains the top payment option for Indian ecommerce shoppers. Digital wallet, credit and debit card adoption rates are relatively small. To increase the use of digital payment methods, the government created a series of banking facilities (known as Jan Dhan Yojana) that have extended debit cards to over 110 million citizens. The impact of this initiative remains to be seen. While cash dominates, international ecommerce merchants should be aware that many large Indian banks offer digital wallet payment options.
India is finally seeing the apex of applying its Unified Payment Interface (UPI) to allow ecommerce merchants to reach unbanked and rural customers.
Cross-Border Fulfillment: Landed Cost is Available.
In-Country Fulfillment: Not available