India’s digital economy is forecasted to reach a value of US$ 1 trillion by 2030, primarily propelled by the burgeoning e-commerce sector, anticipated to be worth US$ 325 billion, securing the third position globally. The year 2023 witnessed notable transformations in consumer habits, technological advancements, and regulatory frameworks, marking a significant juncture for India’s e-commerce landscape. In response to these developments, InGovern Research Services convened a virtual roundtable, shedding light on the pivotal role of consumer trust in fostering the sector’s expansion.
Throughout the discussion, industry experts shed light on both the challenges and opportunities inherent in the realm of quick commerce, highlighting the pivotal role of mobile and internet penetration, escalating consumer aspirations, and augmented disposable incomes in driving the growth of e-commerce. However, amidst the discourse surrounding the sector’s rapid proliferation, a note of caution was sounded by Mr. Srinath Sridharan, a business advisor associated with the Fintech Association for Consumer Empowerment. He advocated for a balanced approach to growth, emphasizing the indispensability of robust consumer protection mechanisms to safeguard against potential pitfalls.
