The Indian e-commerce market is set to overtake the US and become the second largest in the world in less than two decades, going head-to-head with China for the numero uno position, according to a report by global payments firm Worldpay.
The report said the e-commerce market is expected to grow exponentially with emerging markets leading the charge - particularly India, where the segment is predicted to mature by 28 percent per year from 2016 to 2020.
"According to Worldpay projections, India will be the world's second largest e-commerce market by 2034, thanks to massive surges in Internet penetration, a swelling millennial population and the rising uptake of mobile phones," it added.
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