Ecommerce to witness 10-15 percent annual growth: Jayant Sinha

The ecommerce sector would grow at a rate of 10-15 percent annually, higher than the GDP growth rate, in coming years, Minister of State for Finance Jayant Sinha has said. He further added that the economy will more than double to 4-5 trillion dollars if it can achieve a sustainable growth rate of 8-9 percent over the next 10-15 years.

“Our hope is we can get to 8 or 9 per cent steady, sustainable GDP growth for the next 10-15 years. If we are able to do that, our 2 trillion dollars economy will become a 4 or 5 trillion dollars economy,” he said while speaking at the Express Industry Council of India (EICI) conference.

"Hopefully volume will not only grow at 8 per cent, but grow 10-15 per cent a year. That's the addressable market that's coming your way over next 10-15 years. The volume is going to go up dramatically and exponentially. Ecommerce is really going to be taking off. Flipkart, Amazon are also transforming the supply chains and the notion of instead of having big malls and people coming and buying things that notion is going to be rapidly replaced by delivery system that we are seeing from Flipkart, Snapdeal, Amazon and so on. So the whole logistics infrastructure, because of ecommerce, is going to change," he said.