As per the joint report of FICCI and Anarock, the ecommerce industry is all set to achieve a valuation of $120 billion by 2026. The same valuation in 2021 has been $38 billion, which is all set to triple in upcoming five years. The statement is extracted from the joint report by Industry Body FICCI and Property Consultancy Anarock.
The report further interpreted the market size of the retail segment to show a growth of $1.8 trillion by 2030 from $705 billion in 2020.
The industry body said in a statement,
Additionally, COVID-19 has accelerated the growth of e-commerce across India. Online shopping has increased significantly in Tier-II and Tier-III cities as well due to the easy availability of the internet on cheaper tariffs and restrictions on physical movement during the pandemic.
The statement further added that the growth of the ecommerce sector would undoubtedly boost the growth of the warehouse and logistics industry in tier-I cities. The government’s infrastructure development and policy support will play a significant role in boosting the growth of India’s industry and logistics sector.
The forced lockdown in China at the time of COVID disturbed the complete manufacturing and supply chain of companies. As a result, a number of companies are already planning to set up their new manufacturing hubs in countries other than China. Here, India tops the preference due to the availability of cost-efficient labor and resources. At the same time, the National Logistics Policy is also in the draft stage, which is expected to change the face of the logistics sector in India.
There would be more demand for quality workspaces that are well-located and offer convenience to the employees besides a gamut of other facilities that promote well-being and hygiene
the report further added.