B2B Ecommerce Market Of India To Reach $100 Bn By 2030: Report

Led by firms like Jiomart and Udaan, the B2B e-commerce market of India is all set to reach $90-100 billion in gross merchandise value (GMV) by 2030, as per a report by Redseer Strategy Consultants. The projections also show that the B2B general trade opportunity in India will reach $1.2 trillion by 2030. eB2B would also rise as a promising digital procurement solution.

India holds the largest share in general trade with it being 84 per cent when compared to developed nations, including the US and the UK. India's retail market is being driven by the unorganised general trade channel. The retail market will continue to grow and double in size from $0.7 trillion to $1.4 trillion in the same time-frame.

The report also suggests that India's eB2B market has a scope for multiple models but, multi-category play with wide category coverage and national coverage is likely to win. eB2B is emerging as a strong digital procurement solution because of a low adoption in lower city tiers and small stores.

Some of the continued issue points such as higher prices, untimely delivery, no credit option, etc. are being addressed by eB2B platforms.

The report also says eB2B owns a fair wallet share of the offline market, and that the retailers are confident about increasing their spending soon. About 50 per cent of the non-users are also willing to shift to eB2B platforms in the upcoming year.

Also, brands are brands are increasingly turning to eB2B, to access underserved markets.