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India's e-commerce sector ranked 9th globally in cross border growth

India's e-commerce sector ranked 9th globally in cross border growth

While the Covid pandemic had hit the Indian economy hard, the e-commerce sector seems to have grown leaps and bounds since April this year. Indian e-commerce sector is now ranked at 9th place globally in cross border growth. While the world moved to full or partial lockdown, online shopping behavior and consumption patterns cemented into a new reality. The year 2020 has seen a decade of growth within just a few months, and it was observed that India has been amongst the top 10 countries in cross-border e-commerce growth.

As per the global rankings, China tops the charts, followed by the US, Hong Kong, South Korea, UK, Ukraine, and Vietnam. Japan emerges in tenth place after India for the growth in the e-commerce sector. The Indian e-commerce sector has seen an increase as many Indians shopped online rather than venturing outside.

In recent times, the e-commerce sector also saw huge investments from global players such as Facebook investing in Reliance Jio. Google also announced its first investment shortly after $4.5 billion in Mukesh Ambani-owned Jio Platforms, joining Facebook and others. The deal was followed by Reliance Retail buying out Future group to increase the Ambani group's presence in the e-commerce space.


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