Report Predicts India’s Internet Economy to Reach $1 Trillion by 2030 with Six-Fold Growth

A joint report by Google, Temasek, and Bain & Company reveals that India’s internet economy is forecasted to grow six-fold and reach $1 trillion (approximately Rs. 82,58,950 crore) by 2030. The e-commerce sector will be the primary contributor to this surge. In 2022, India’s internet economy was evaluated to be between $155-175 billion. The B2C e-commerce division is anticipated to lead the growth, with B2B e-commerce, software-as-a-service providers, and online media led by over-the-top players following close behind. According to Sanjay Gupta, Google India’s Country Manager & Vice President, most future purchases will be completed digitally. Startups have driven digital innovation, while small and medium-sized businesses and large corporations have embraced digital technologies to increase competitiveness post-pandemic. The report expects B2C e-commerce to increase 5-6 times to $350-380 billion by 2030 from approximately $60-65 billion in 2022, B2B e-commerce to surge 13-14 times to $105-120 billion from approximately $8-9 billion in 2022, and the software-as-a-service sector to grow 5-6 times to $65-75 billion by 2030, up from $12-13 billion in 2022. Vishesh Shrivastav, Temasek’s Managing Director (Investments), stated that India is now a new hope for global GDP growth.

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