India’s e-commerce enablement company Shiprocket has entered the final day of its initial public offering with strong investor demand, putting one of the country’s best-known logistics technology companies on course for a closely watched stock-market debut.

The IPO opened on August 12 and closes on August 14, with Shiprocket shares expected to begin trading on the BSE and NSE on August 19. The company has established a price band of ₹92 to ₹97 per share for an issue worth approximately ₹1,617.5 crore at the upper end of the range.

Investor demand accelerated significantly during the final day. According to Economic Times data, as of 12:18 IST on August 14, the offering had been subscribed 18.12 times overall. Non-institutional investors had subscribed 35 times their allocated portion, retail investors 24.66 times and qualified institutional buyers 7.26 times.

The figures represent a sharp acceleration from the end of the second day, when the IPO stood at 3.16 times subscribed overall. Retail demand had already been particularly strong at that stage, with the retail portion subscribed 9.77 times.

Shiprocket aims to raise around ₹1,617.5 crore

The Shiprocket IPO combines a fresh share issue with an offer for sale by existing shareholders.

Approximately ₹885.5 million? No — ₹885.5 crore of the offering comes from newly issued shares, while around ₹732 crore is being offered by existing shareholders. This brings the total IPO size to approximately ₹1,617.5 crore.

The distinction is important. Money raised through the fresh issue will go to Shiprocket and can be invested in the company, while proceeds from the offer-for-sale portion go to the shareholders selling their stakes.

Shiprocket has identified technology investment, marketing, business expansion, debt repayment and potential acquisitions among the areas where proceeds from the fresh issue may be deployed.

The company also secured ₹727.41 crore from anchor investors before the public subscription opened. According to Economic Times, roughly two-thirds of the anchor allocation was taken by 13 domestic mutual funds across 31 schemes.

At the upper price of ₹97, retail investors must bid for a minimum lot of 154 shares, equivalent to an investment of ₹14,938.

More than an e-commerce delivery company

Shiprocket's public offering is particularly relevant to the e-commerce industry because the business has expanded considerably beyond its original role as a shipping aggregator.

The platform connects online merchants with logistics providers while also offering services covering fulfilment, checkout, payments, cross-border shipping, marketing, omnichannel commerce, hyperlocal delivery and other merchant tools.

This effectively positions Shiprocket as infrastructure for e-commerce businesses rather than as a conventional parcel carrier.

The company works with third-party logistics providers including Delhivery, FedEx, Aramex, Xpressbees, DTDC and Shadowfax, allowing merchants to manage different delivery services through a single technology ecosystem.

As of the six months ending September 30, 2025, Shiprocket reported more than 145,000 active merchants and more than 97 million transactions processed through its platform. More than 8,500 of those companies were classified as high-volume merchants.

That merchant network gives the IPO significance beyond the performance of a single Indian technology company. Shiprocket sits at the intersection of several of the fastest-developing parts of e-commerce: D2C brands, small and medium-sized online merchants, marketplace selling, fulfilment technology and cross-border commerce.

Revenue reaches more than ₹2,000 crore

Shiprocket has also continued to expand its revenue.

Revenue from operations increased approximately 24% during the financial year ending March 2026, reaching ₹2,024.1 crore compared with ₹1,632 crore in FY25.

However, the company has not yet reached net profitability.

Shiprocket recorded a consolidated net loss of approximately ₹79.2 crore in FY26, slightly wider than the ₹74.4 crore loss reported in the previous financial year. EBITDA losses nevertheless narrowed to around ₹16.6 crore from ₹17.2 crore.

The financial picture therefore reflects a common challenge among technology-enabled e-commerce platforms entering the public markets: substantial revenue growth accompanied by continued investment in newer business segments.

Shiprocket's established domestic shipping operation is complemented by what the company describes as emerging businesses, including cross-border commerce, checkout services, marketing, hyperlocal delivery and other merchant solutions.

These newer businesses provide additional growth opportunities, but they also require continued investment before reaching the scale and profitability of the company's core operations.

Strong investor interest builds ahead of listing

Investor enthusiasm has also been visible outside the formal subscription process.

Early on the final day, Shiprocket shares were reportedly commanding a grey-market premium of around ₹37 over the upper IPO price of ₹97, equivalent to roughly 38%. Grey-market activity is unofficial and can change rapidly, however, meaning it should not be interpreted as a guaranteed indication of the eventual listing price.

Several Indian brokerages cited by Economic Times have also issued positive views on the offering, pointing to Shiprocket's position within India's growing e-commerce ecosystem, its merchant network and its ability to expand revenue across multiple services. Profitability remains one of the principal risks highlighted around the business.

The final subscription figures will ultimately provide a clearer indication of institutional demand once bidding closes.

Why Shiprocket's IPO matters for e-commerce

Shiprocket's market debut represents more than another Indian technology IPO.

The company has built its business around enabling thousands of merchants to access logistics and commerce capabilities that historically would have required relationships with multiple individual providers.

That model reflects a broader change taking place in e-commerce infrastructure.

Online sellers increasingly expect shipping, returns, fulfilment, payments, marketing, cross-border delivery and order management systems to work together. Platforms capable of aggregating those services can become an important layer between merchants, marketplaces, carriers and consumers.

Shiprocket is attempting to position itself within exactly that layer.

Its cross-border operations are particularly relevant as Indian merchants increasingly look beyond the domestic market. International shipping, customs support and integrated technology can lower some of the operational barriers that traditionally make international expansion difficult for smaller online sellers.

At the same time, the IPO will test whether public investors are prepared to value e-commerce infrastructure businesses primarily on growth, scale and future operating leverage while they remain loss-making at the net-income level.

What happens next?

The Shiprocket IPO closes on August 14.

The basis of allotment is currently scheduled for August 17, with refunds and the crediting of shares expected on August 18. Shiprocket is then scheduled to list on both the BSE and NSE on August 19, 2026.

With demand accelerating significantly during the final day, attention will now move toward the final subscription figures and the company's performance when trading begins.

For the e-commerce industry, however, the listing has broader significance. Shiprocket's journey from a shipping-focused technology provider into a wider commerce enablement ecosystem demonstrates how logistics technology companies are increasingly becoming integral infrastructure for digital commerce.

The response from investors suggests that the capital markets are paying attention too.

The post Shiprocket IPO Draws Strong Demand on Final Day of Bidding appeared first on Cross-Border Magazine.

India’s Open Network for Digital Commerce (ONDC) has passed 500 million cumulative transactions, marking a major milestone for the country’s attempt to build an open and interoperable alternative to traditional e-commerce platforms.

The milestone was reached in July 2026, according to figures provided by India’s Department for Promotion of Industry and Internal Trade (DPIIT). ONDC has grown rapidly from around 200,000 transactions in the 2022–23 financial year to 218 million transactions during FY2025–26.

Unlike Amazon, Flipkart or other conventional marketplaces, however, ONDC is not itself an e-commerce platform. It provides the infrastructure through which different buyer applications, sellers, logistics providers and other services can interact.

That distinction is becoming increasingly important as ONDC expands beyond retail commerce into transport, logistics and other digital services.

What is ONDC?

ONDC was launched in 2022 as part of India's wider digital infrastructure strategy.

Rather than requiring consumers and sellers to operate within the same marketplace, ONDC is designed around interoperability.

A customer using one ONDC-connected shopping application can, in principle, discover and purchase products offered through a seller connected via another network participant.

The concept resembles the approach used by open digital infrastructure elsewhere in India, particularly the Unified Payments Interface (UPI), where banks and payment applications can interact using common standards.

India's government describes ONDC as an open network rather than an application, platform or marketplace. Its objective is to reduce dependence on individual digital platforms while making online commerce more accessible to smaller businesses.

More than 200,000 retail merchants are active on ONDC

By July 2026, more than 200,000 retail merchants were active on ONDC, while over one million service providers across mobility and logistics were associated with the network.

Earlier government figures showed ONDC reaching more than 200 million potential buyers, around 500,000 sellers and approximately 1,000 Indian cities by June 2026.

At that point, the network was handling close to nine million transactions per month.

The figures illustrate how rapidly ONDC has evolved from an experimental digital commerce initiative into a significant part of India's broader digital economy.

For smaller retailers in particular, the model is intended to provide online visibility without requiring them to become dependent on a single marketplace ecosystem.

India has also launched initiatives designed specifically to accelerate that process.

The DigiDukaan programme, for example, has reportedly onboarded more than 13,000 small kirana stores in Hyderabad and Jaipur, providing support to help traditional retailers participate in digital commerce.

ONDC is becoming more than an e-commerce network

One of the most important developments behind the 500 million transaction milestone is ONDC's expansion beyond conventional retail.

More than one million drivers are now participating in ride-hailing services connected to the network.

ONDC has also entered public transport. As of June 2026, it was facilitating more than 370,000 public transport journeys per day through more than 35 buyer applications.

The network covers nine metro systems and four urban bus transport operators, while approximately 80% of India's metro ticketing inventory is now available through ONDC.

This expansion demonstrates the broader ambition behind ONDC.

Instead of creating another online marketplace, India is attempting to establish a common digital commerce layer that can potentially support retail products, mobility, logistics, financial services and other transactions.

Logistics becomes increasingly important

Logistics is also developing into a significant part of the ONDC ecosystem.

More than 50 hyperlocal logistics providers are currently live on the network, while over 60,000 merchants are using ONDC Logistics.

More than 50 brands operating in areas including food delivery, quick commerce, pharmacy and general retail are also reportedly using the network for deliveries across more than 150 cities.

India Post has additionally been integrated as a logistics provider.

This could prove particularly important for smaller merchants located outside India's largest urban areas, where access to established fulfilment networks can be more limited.

A commerce network can only become genuinely open if sellers also have access to competitive payment and delivery services. Expanding the number of logistics providers available through ONDC therefore represents an important part of its development.

Small businesses remain at the centre of the strategy

Supporting small and medium-sized enterprises remains one of the government's main arguments for ONDC.

Large marketplaces typically combine customer acquisition, technology, fulfilment, advertising and payments within the same ecosystem.

That can provide enormous reach, but it can also make merchants highly dependent on the rules and fees of an individual platform.

ONDC attempts to separate these functions.

Sellers can theoretically connect with multiple buyer applications, while logistics providers, payment services and other companies can compete to provide different elements of the transaction.

India has approved ₹2.77 billion under the MSME TEAM initiative for FY2024–25 to FY2026–27 to help micro and small enterprises participate in digital commerce.

The programme provides assistance with onboarding, product cataloguing, account management, logistics and packaging, with 50% of the targeted beneficiary businesses expected to be women-owned enterprises.

Agriculture is also moving onto the network

ONDC's expansion is extending into agricultural commerce.

Through the Amazing India initiative, more than 800 independent sellers and eight aggregator organisations representing more than 1,500 Farmer Producer Organisations have joined the network.

Seven warehouses have also been established in cooperation with India Post and DGCPack.

The development points towards another potential use for open commerce infrastructure: connecting smaller producers directly with digital buyers without requiring them to build their own e-commerce operations.

Could ONDC become India's UPI for commerce?

The most ambitious comparison surrounding ONDC is inevitably UPI.

India's Unified Payments Interface transformed digital payments by allowing financial institutions and payment applications to communicate through common infrastructure.

UPI processed more than 24,000 crore transactions during FY2025–26 and has become one of the central components of India's digital economy.

ONDC is attempting something similar for commerce, although the challenge is considerably more complicated.

A payment transaction primarily requires the movement of money and information.

E-commerce requires product discovery, inventory management, pricing, fulfilment, delivery, returns, customer support, payments and dispute resolution to work across multiple participants.

Creating interoperability across that entire chain is considerably harder.

Crossing 500 million transactions therefore does not mean ONDC has already created an alternative capable of replacing India's largest marketplaces.

It does, however, demonstrate that open-network commerce is operating at increasingly meaningful scale.

What ONDC could mean for global e-commerce

ONDC is particularly interesting outside India because it offers a fundamentally different model for organising digital commerce.

Most of the global e-commerce economy is dominated by vertically integrated platforms. Amazon, Alibaba, Mercado Libre and other major marketplaces bring buyers and sellers together inside proprietary ecosystems.

ONDC proposes that commerce itself could instead become interoperable.

If the model continues to scale, buyers, merchants, fulfilment providers and technology companies may not necessarily need to belong to the same platform to transact with one another.

ONDC has already tested an international use case involving a Singapore buyer sourcing tea directly from India through an ONDC-enabled buyer network participant, suggesting that cross-border commerce could eventually become part of the network's expansion.

That development will be particularly important to watch.

India is one of the world's largest and fastest-developing digital commerce markets. If ONDC succeeds at scale, its biggest impact may eventually extend beyond the number of transactions taking place inside India.

It could provide the global e-commerce industry with a real-world test of whether open, interoperable commerce infrastructure can coexist with — or eventually challenge — the closed marketplace model that has dominated online retail for more than two decades.

The post ONDC passes 500 million transactions as India’s open commerce network scales appeared first on Cross-Border Magazine.

India's e-commerce sector is transforming, driven by rapid digital adoption, evolving consumer behaviors, and robust infrastructure development. As of 2025, the industry is poised for significant growth, with projections indicating a continued upward trajectory over the next five years.

Current State of E-Commerce in India (up to 2024)

Market Size & Growth

We will use the 2024 stats to provide a clear snapshot of the Indian e-commerce market. By 2024, India's e-commerce market reached approximately $147.3 billion, marking a 23.8% year-on-year growth. This growth can be attributed to increased internet penetration, enhanced digital payment infrastructure, and a growing consumer preference for online shopping.

Key Growth Drivers

• Digital Penetration: With over 895 million internet connections as of June 2023, India's digital landscape is expanding rapidly, facilitating greater access to online platforms.
  
• Mobile Commerce: The proliferation of smartphones has made mobile commerce a significant contributor to e-commerce sales, especially in Tier 2 and Tier 3 cities.
  
• Digital Payments: Adopting digital payment methods, including UPI and mobile wallets, has streamlined online purchasing and enhanced user convenience.
  

Five-Year Forecast (2025–2030)

Market Projections

India's e-commerce market is expected to grow at a compound annual growth rate (CAGR) of 21.5%, reaching approximately $363.3 billion by 2030. This growth will be fueled by increased consumer trust in online transactions, expansion of product categories, and improved logistics networks.

Emerging Trends

• Social Commerce: Platforms like Meesho and Flipkart are leveraging social media to drive sales, with India's social commerce market projected to reach $25.7 billion by 2029, growing at a CAGR of 28.9%.
  
• Quick Commerce: Rapid delivery services are gaining traction, with quick commerce accounting for over two-thirds of e-grocery orders in 2024. This segment is expected to grow by 40% annually until 2030.

• B2B E-Commerce: The business-to-business e-commerce market is set to expand significantly, with projections estimating it to reach $4,709.1 billion by 2030, growing at a CAGR of 21.6%.
  

Sectoral Insights

Fashion & Lifestyle

Fashion remains a dominant category in India's e-commerce landscape. Platforms like Myntra have reported substantial growth, with a 25% increase in revenue, reaching approximately $525 million for the year ending March 31, 2024.

Direct-to-Consumer (D2C) Brands

D2C brands are reshaping the retail landscape by offering personalized products directly to consumers. The D2C e-commerce market in India is projected to reach $267.03 billion by 2030, growing at a CAGR of 25%.

Global Integration

India's role in the global e-commerce ecosystem is strengthening. Amazon's Global Selling program anticipates facilitating exports worth $5 billion for Indian sellers in 2024, up from nearly $3 billion in 2023. This reflects the increasing global demand for Indian products and the country's growing prominence in international trade.

Challenges Ahead

Despite the optimistic outlook, the e-commerce sector faces challenges:

• Regulatory Hurdles: Ensuring compliance with evolving e-commerce regulations and maintaining fair competition remains a concern.
  
• Infrastructure Constraints: While urban areas benefit from robust logistics, rural regions still face delivery and connectivity issues.
  
• Consumer Trust: Building and maintaining consumer trust, especially concerning data privacy and product authenticity, is crucial for sustained growth.
  

India's e-commerce sector stands at a pivotal juncture, with immense growth potential over the next five years. By addressing existing challenges and leveraging emerging trends, the industry is poised to redefine the retail landscape, offering enhanced value to consumers and businesses alike.

The post The State of E-Commerce in India and 5-Year Forecast appeared first on Cross-Border Magazine.

E-commerce has emerged as a pivotal force in reshaping India's economic landscape, driving significant growth across various sectors. The rapid expansion of internet access and a tech-savvy population have positioned India as a burgeoning hub for online commerce. 

Today, we want to explore the multifaceted impact of e-commerce on India's growth, highlighting key areas such as economic contribution, employment generation, and the evolution of traditional retail.

Economic Contribution of E-Commerce

The e-commerce sector has substantially bolstered India's economy. Projections indicate that the country's digital economy is on track to achieve a trillion-dollar valuation in the coming years, and e-commerce will play a central role in this expansion.

This surge is attributed to increasing internet penetration, improved digital infrastructure, and a growing consumer base embracing online shopping.

Notably, the Online Network for Digital Commerce (ONDC) has democratized e-commerce by creating an open, inclusive network that enables direct connections between buyers and sellers. This initiative has empowered small businesses, particularly in rural areas, fostering economic inclusivity and broadening market access.

Employment Generation

E-commerce has emerged as a significant employment generator in India. The sector has created over 16 million jobs across various domains, including marketing, management, customer service, warehouse logistics, and delivery services.

This employment surge enhances livelihoods and contributes to skill development and economic empowerment.

Furthermore, online vendors have generated approximately 15.8 million jobs, 3.5 million of which are filled by women. This highlights the sector's role in promoting gender inclusivity in the workforce.

Transformation of Traditional Retail

The rise of e-commerce has prompted a paradigm shift in traditional retail models. Retailers are increasingly integrating online channels into their business strategies, adopting omnichannel approaches to enhance customer experience and remain competitive. This integration allows consumers to enjoy seamless shopping experiences online or in physical stores.

However, this evolution also presents challenges. Concerns have been raised about the potential social disruption caused by the rapid growth of e-commerce, particularly its impact on traditional retail sectors such as local stores and small businesses. Balancing the benefits of digital advancement with the preservation of conventional retail ecosystems remains a critical consideration.

Impact of E-commerce on India’s Economy

Future Prospects

The trajectory of e-commerce in India points towards sustained growth and innovation. Projections suggest that the e-commerce market could reach $325 billion by 2030, driven by expanding internet access, technological advancements, and evolving consumer preferences.

Addressing infrastructure, cybersecurity, and regulatory frameworks challenges is imperative to harnessing e-commerce's full potential. Enhancing digital literacy and consumer awareness will build trust and confidence in online transactions.

E-commerce is a transformative catalyst in India's economic growth, offering unparalleled opportunities for businesses and consumers. By fostering innovation, generating employment, and redefining traditional retail paradigms, e-commerce is poised to continue its significant contribution to India's economic development. Strategic efforts to navigate associated challenges will ensure that the benefits of this digital revolution are inclusive and far-reaching.

The post The Massive Impact of E-Commerce on India's Economic Growth appeared first on Cross-Border Magazine.

The USA vs India e-commerce landscape presents a fascinating contrast shaped by distinct market sizes, leading players, logistics infrastructure, and consumer preferences. While the U.S. boasts a mature and highly efficient e-commerce ecosystem, India’s market is rapidly expanding, driven by increasing digital adoption and innovative delivery models. Today we want to compare key aspects such as market size, dominant players, logistics efficiency, and consumer behavior.

Market Size and Growth

India's e-commerce market was valued at $46.2 billion in 2020 and is projected to grow at a CAGR of 18.29%, reaching $136.47 billion by 2026 (Trade.gov). In contrast, the U.S. e-commerce market is significantly larger, with e-commerce sales surpassing $1 trillion in 2022, fueled by rapid online adoption post-COVID-19.

Major retailers in the U.S. reported significant online growth, with Walmart’s e-commerce revenue surging by 74% in early 2020, particularly in the grocery segment (Locus.sh).

Leading E-Commerce Players

United States

The U.S. e-commerce market is dominated by:

• Amazon – Holding the lion’s share of online retail sales.
• Walmart – Expanding its digital footprint aggressively, with $100 billion in expected e-commerce sales in 2024 (Investors.com).
• eBay, Target, and Costco – Popular platforms with strong online customer bases.

India

The Indian e-commerce market is led by:

• Amazon India – A dominant force, competing fiercely with local players.
• Flipkart – Walmart-owned, commanding a substantial share of India’s e-commerce sector.
• Reliance’s JioMart – Rapidly growing in the grocery and quick commerce segment.
• Blinkit, Swiggy Instamart, Zepto – Leading the quick-commerce revolution, promising deliveries in under 30 minutes.

Amazon has recently entered India's quick commerce race, piloting 15-minute grocery deliveries (Reuters).

Logistics and Delivery Efficiency

USA Logistics

The U.S. e-commerce sector benefits from a highly developed logistics and warehousing network, enabling same-day and next-day deliveries via:

• Amazon Prime – A leader in ultra-fast deliveries.
• Walmart+ and Target Shipt – Competing with swift fulfillment services.

India Logistics

India’s logistics sector is evolving rapidly, with investments in supply chain efficiency. The emergence of quick-commerce startups highlights India’s move towards ultra-fast deliveries (10–30 minutes), but challenges remain, including infrastructure constraints and regulatory barriers (FT.com).

Consumer Preferences: USA vs India E-Commerce

United States

• Preference for convenience and speed – Americans favor fast, reliable deliveries.
• Strong inclination toward online grocery shopping – Surge in digital grocery adoption post-pandemic.
• Higher reliance on premium subscriptions – Amazon Prime and Walmart+ subscriptions fuel e-commerce growth.

India

• Rising digital adoption – Increasing smartphone penetration drives online shopping.
• Demand for quick-commerce services – Consumers, especially in urban areas, prefer instant deliveries.
• Growth of digital payment systems – UPI and mobile wallets enhance online shopping convenience (Statista).

USA vs India E-Commerce: Key Statistics Comparison

The USA vs India e-commerce market comparison reveals that the U.S. remains a mature and structured industry. In contrast, India is experiencing explosive growth, driven by digital penetration and quick-commerce innovation. As both markets evolve, logistics advancements and consumer behavior shifts will continue to shape the future of e-commerce in these two economic powerhouses.

The post USA vs India E-Commerce: A Market Comparison appeared first on Cross-Border Magazine.

Amazon has taken a strategic step in its expansion in India and will acquire Axio, a local startup specializing in the “Buy Now, Pay Later (BNPL)” modality. With this transaction, the company founded by Jeff Bezos reinforces its commitment to financial services in one of its most dynamic and fastest-growing markets.

Axio has confirmed the acquisition through a blog post detailing that the deal was closed last December after completing a rigorous due diligence process. Although financial terms have not been disclosed, sources close to the deal have confirmed to TechCrunch that “the value of the transaction exceeds $150 million.” The transaction is still subject to approval from India's central bank.

Axio has raised $135 million 

The startup, backed by investors such as Peak XV Partners, Ribbit Capital, and Elevation Capital, has raised $135 million since its founding. Axio has positioned itself as a key player in India's financial ecosystem, providing instant credit to more than 10 million customers and managing a loan portfolio valued at $260 million. Its solutions are designed to address the limited penetration of traditional credit in the country, where credit cards are scarce, and banks often avoid small loans as unprofitable.

Axio's technology allows it to assess customer creditworthiness quickly and efficiently, facilitating credit decisions in seconds. This approach has made it an attractive option for e-commerce platforms such as Amazon and MakeMyTrip, where it offers its services at the point of sale.

India is a complex market for BNPL

However, the market in which Axio operates is not without its challenges. Similar startups such as ZestMoney - backed by Goldman Sachs and once valued at $450 million - have also faced difficulties in sustaining their growth and were eventually bought by financial services firm DMI Group in a liquidation sale last fiscal year. Axio competes with Bajaj Finance, the Indian financial services titan that dominates the market.

Axio is the second startup Amazon has bought in India in the past year, after acquiring on-demand video streaming platform MX Player last June. So far, Amazon has invested more than $10 billion in India.

The post Amazon wants to buy Axio for over $150 million appeared first on Cross-Border Magazine.

India’s e-commerce landscape has witnessed explosive growth, driven by the rise of digital infrastructure, increased internet penetration, and a young population keen on online shopping. With a population of over 1.4 billion, India has one of the largest and fastest-growing e-commerce markets globally. Below is an in-depth look at the leading e-commerce marketplaces in India, along with current sales data, popular product categories, and payment methods.

Leading E-commerce Marketplaces in India

India’s e-commerce market is dominated by a handful of key players who collectively shape consumer trends, sales, and industry growth. Here are the top marketplaces:

1. Amazon India

Overview: Amazon India has maintained a strong position since its launch in 2013. The platform caters to millions of consumers and offers a vast range of products, making it one of the most popular online marketplaces in the country.

Statistics:

• Market Share: Amazon India holds approximately 32% of the market share in the Indian e-commerce industry.
• Annual Revenue: As of the last reported year, Amazon India generated over $12 billion, a significant contribution to India’s total e-commerce revenue.

Popular Product Categories:

• Electronics: smartphones, laptops, and accessories
• Fashion and Apparel
• Home Appliances
• Books and Media

Payment Options:

• Credit/Debit Cards
• Net Banking
• UPI (Unified Payments Interface)
• Wallets (e.g., Amazon Pay, Paytm)
• Cash on Delivery (COD)

2. Flipkart

Overview: Flipkart enjoys immense popularity as a homegrown platform, especially in rural and semi-urban areas. Acquired by Walmart in 2018, Flipkart has grown into a dominant e-commerce player, renowned for its competitive prices and extensive product offerings.

Statistics:

• Market Share: Flipkart accounts for around 35% of India’s e-commerce market, slightly surpassing Amazon in specific segments.
• Annual Revenue: With a revenue nearing $10 billion, Flipkart remains a major competitor in the Indian market.

Popular Product Categories:

• Fashion and Apparel (especially in the Tier-2 and Tier-3 cities)
• Mobile Phones and Electronics
• Home and Kitchen Appliances
• Groceries through Flipkart Grocery

Payment Options:

• Credit/Debit Cards
• UPI
• Net Banking
• Wallets (including PhonePe, which Flipkart owns)
• Cash on Delivery

3. Myntra

Overview: Myntra, owned by Flipkart, is a leading fashion-focused e-commerce platform catering to India’s growing demand for branded apparel and accessories. Known for exclusive collaborations with international brands, Myntra is a preferred choice for fashion enthusiasts.

Statistics:

• Market Share: Myntra captures about 5% of the fashion segment in India.
• Annual Revenue: Myntra’s revenue has grown to approximately $600 million, reflecting high consumer interest in online fashion.

Popular Product Categories:

• Men’s and Women’s Fashion
• Footwear
• Accessories
• Beauty and Personal Care

Payment Options:

• Credit/Debit Cards
• Net Banking
• UPI
• Wallets (including Paytm and PhonePe)
• Cash on Delivery

4. Reliance’s JioMart

Overview: JioMart, launched by Reliance, is the newest entrant aiming to tap into the grocery and essentials market. JioMart’s collaboration with WhatsApp aims to streamline ordering for users in Tier-2 and Tier-3 cities.

Statistics:

• Market Share: JioMart has captured around 10% of the grocery segment in India.
• Annual Revenue: JioMart’s revenue has exceeded $1 billion, marking rapid growth in the grocery sector.

Popular Product Categories:

• Groceries and Essentials
• Fresh Produce
• Dairy Products
• Home Cleaning Products

Payment Options:

• Credit/Debit Cards
• UPI
• Net Banking
• Wallets (including Jio Money, Paytm)
• Cash on Delivery

5. Tata CLiQ

Overview: Tata CLiQ is a premium e-commerce platform that sells fashion, electronics, and lifestyle products. It differentiates itself by offering a unique blend of local and international brands.

Statistics:

• Market Share: Tata CLiQ holds approximately 3% of the market share in India’s e-commerce landscape.
• Annual Revenue: With around $500 million, Tata CLiQ is steadily building a niche audience.

Popular Product Categories:

• Electronics
• Premium Fashion Brands
• Beauty and Personal Care
• Home Decor

Payment Options:

• Credit/Debit Cards
• UPI
• Net Banking
• Wallets (Paytm, Tata CLiQ Wallet)
• Cash on Delivery

Trends in Product Categories and Payment Methods in India’s E-commerce Market

India’s e-commerce market is seeing key trends reshaping consumer behavior and sales patterns.

Popular Product Categories in 2024

As of 2024, here’s a breakdown of the most popular product categories across e-commerce platforms in India:

1. Electronics and Mobile Phones – The highest-selling category, with electronics dominating almost every major sales event.
2. Fashion and Apparel – A close second, especially in urban areas.
3. Groceries – Rising demand in grocery categories, particularly among urban families opting for the convenience of online grocery shopping.
4. Home and Kitchen Appliances – Gaining traction, especially during festival seasons.

Payment Options and Preferences

In India, digital payments have surged, thanks to government initiatives and the popularity of platforms like UPI. Here’s how users are paying for their online purchases:

1. UPI – Unified Payments Interface (UPI) leads digital payments in India, with nearly 60% of all transactions in the e-commerce sector.
2. Wallets – Wallets like Paytm and PhonePe are popular, particularly among young consumers.
3. Credit/Debit Cards – Widely accepted and used, especially for high-value transactions.
4. Cash on Delivery (COD) – Despite the rise in digital payments, COD remains a preferred choice, especially in rural areas.

India’s e-commerce landscape is marked by fierce competition and rapid growth, driven by global giants and local powerhouses. Amazon and Flipkart dominate the market, while platforms like JioMart and Tata CLiQ are finding success in specific niches. As consumer preferences evolve, product categories like electronics, fashion, and groceries continue to drive sales, while digital payment methods, particularly UPI, reshape India’s e-commerce payment landscape. The future of e-commerce in India looks promising as new players and innovations contribute to a vibrant, diverse marketplace that caters to a billion-plus population.

The post Top E-commerce Marketplaces in India: Statistics, Popular Products, and Payment Options appeared first on Cross-Border Magazine.

During a keynote presentation at the Global Fintech Fest in Mumbai, Mastercard announced the global launch and first massive test of its new Payment Passkey service, which aims to make online shopping safer and more accessible than ever before. 

The service, which will debut first in India as a pilot with some of the country's largest payment players, including payment aggregators such as Juspay, Razorpay, and PayU, online merchants such as Bigbasket, and leading banks such as Axis Bank, will give millions of consumers more control and peace of mind when shopping online.  

Despite their growing popularity due to their ease of use, one-time passwords (OTPs) are increasingly vulnerable to online scams such as phishing, SIM card swapping, and message interception. In India, fraud cases have increased by almost 300% in the last two years, reports the Reserve Bank of India's Annual Report 2023-2024.

Payment passcodes are entering the scene. These use device-based biometric authentication methods, such as fingerprints or facial scans, but with an entirely new purpose: streamlining online shopping experiences. By replacing traditional passwords and OTPs, the Mastercard Payment Passkey Service makes transactions not only faster but also more secure against fraud and scams. With Payment Passkeys, consumers can say goodbye to the hassle of accidentally forgetting or sharing their passwords or OTPs.  

What is Mastercard Payment Passkey?

The Mastercard Payment Passkey service uses tokenization to protect a consumer's payment and biometric data, ensuring that data is not shared with third parties and is useless to fraudsters and scammers. 

The service is a tipping point for online payment:  

1. Shoppers choose their Mastercard when checking out as a guest or select a card that is already securely stored in a merchant's files.  

2. To confirm payment, users can use the features of their device's biometric authentication mechanism, such as a fingerprint, facial scan, or PIN. 

3. Once authentication is successful, the payment is completed instantly.  

“By introducing the Mastercard Payment Passkey service in India, we are driving secure online payment and our vision of a tokenized economy,” said Jorn Lambert, chief product officer of Mastercard. "We create a more transparent commerce ecosystem through innovative technology that enhances security and convenience. As we continue to lead the way in digital payments, our commitment to a tokenized future is stronger than ever."  

With its rapidly expanding payments ecosystem and advanced tokenization market, India is adopting payment access keys and enhanced biometric authentication in line with the Reserve Bank of India's goal of a more secure and resilient payments system. Payment passcodes provide speed, convenience, and security, and enhance the user's shopping experience. For businesses, it means fewer abandoned carts and less fraud. For consumers, it means faster payments and peace of mind. 

The Mastercard Payment Passkey service is designed for online or remote tokenized transactions, which today help significantly reduce fraud and increase approval rates. Combining tokenization of payment credentials with seamless biometric authentication, Mastercard combines industry standards from EMVCo, the World Wide Web Consortium, and the FIDO Alliance to accelerate and secure the payment experience. 

Following the initial pilot program in India, the company will roll out the Mastercard Payment Passkey service to more consumers and financial institutions worldwide in the coming months.  

“We are excited to partner with Mastercard to pilot their Payment Passkey service as an alternative transaction authentication method and offer our customers a non-OTP based solution for transaction management,” said Sanjeev Moghe, president and head of Cards and Payments at Axis Bank. “This will enable us to offer a more engaging in-app and user experience for customers who want enhanced security and hassle-free payments.”

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Consumers may pay more to shop online on Amazon India for certain products as the company is apparently set to revise its seller fee structure again before the end of 2024.

In a recent notification, the e-commerce behemoth informed sellers about a revised structure that is likely to result in price increases for several items. The last fee revision was in May 2023. The revised structure "does not include the 18% GST that will be levied on the seller fee", according to reports.

A seller needs to pay Amazon a fee for the items sold on the Amazon platform.

Among the hiked fee structure, luxury beauty has been increased from 5% to a tiered system that goes up to 10%.

The sleepwear category will witness a seller fee hike from 11-15% to 13.5-19%, while the home improvement category will see an increase from 9% to 13.5%.

Marketplace e-commerce is booming in India

Currently, the Indian e-commerce industry is booming, and it is projected to reach US$ 300 billion by 2030, experiencing significant growth.​ Third-party logistics providers are anticipated to manage approximately 17 billion shipments within the next seven years.

India has around 936.16 million internet subscribers, including about 350 million mature online users actively engaging in transactions.

With over 295 million visits per month Amazon India still retains the top position as the main marketplace online for the region. It offers various products across various categories, such as electronics, fashion, books, home and kitchen, health and beauty, and more. You can sell on Amazon India as an individual or a professional seller and benefit from its features such as Fulfillment by Amazon (FBA), Amazon Prime, Amazon Advertising, and Amazon Seller Central. 

Amazon India charges a monthly subscription fee of Rs. 499 for professional sellers, plus referral and closing fees depending on the product category.

Following Amazon is Flipkart, India’s largest homegrown e-commerce marketplace, founded in 2007 by Sachin Bansal and Binny Bansal, and in third place is Myntra, India’s leading online fashion marketplace, founded in 2007 by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena.

The post Amazon India could revise its fee structure... again  appeared first on Cross-Border Magazine.

Google has invested nearly $350 million in Flipkart, becoming the latest big-name company to back the Walmart-owned Indian startup.

Specifically, Flipkart explained in a press release that the tech company will also provide it with cloud offerings as part of the deal. Google's investment is part of a nearly $1 billion (€921 million) funding round Flipkart launched in 2023. Walmart led the round, having invested $600 million (about €553 million) at the end of 2023. Microsoft is also an investor in Flipkart.

Flipkart, valued at $36 billion (about 33,157 million euros) with this injection, leads the e-commerce market in the Indian country. In addition, it also owns the fashion e-commerce platform Myntra, which controls around 48% of the Indian e-commerce market.

Indian e-commerce keeps growing strong 

The Indian e-commerce market is estimated to reach $133 billion (about €122.489 billion) by 2025.

"Indian e-commerce is seeing the emergence of competitors. Amazon and Flipkart remain leaders driven by strengths in the mobile, consumer electronics, and home appliances category. However, unlike the big horizontal winners in the global e-commerce market, India is likely to see category winners such as Blinkit (fast commerce), Meesho (tier 2+ marketplaces), and Nykaa (vertical commerce) as they grow," analysts recently explained.

Google, which reaches more than 500 million people in India, sees the country as a key overseas market. The company unveiled plans to invest $10 billion (about 9,208.8 million euros) in Indian companies by 2020. Since then, it has invested $4.5 billion (€4,143.8 million) in telecom operator Jio Platforms and another $1 billion (€920.8 million) in Airtel.

It is estimated that e-commerce in India will reach annual growth rates of 18% through 2025. By 2030, India is anticipated to emerge as the third-largest consumer market globally, underlining the vast opportunities and potential that lie ahead of the e-commerce sector in the country.

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