Industry

India’s B2B market will reach $90-100 billion in gross merchandise value (GMV) by 2030. It is further projected that the B2B Portal general trade opportunity in India will reach $1.2 trillion by 2030. India holds the largest share in general trade when compared to developed nations, including the US and the UK. It is the unorganised general trade channel that is driving India’s retail market and will continue to grow, doubling in size from $0.7 trillion to $1.4 trillion in the same time-frame. There is no better time for Indian MSMEs in the manufacturing sector to adopt a digital-first approach to cross-border trade and augment India into becoming the next big sourcing destination globally.
India’s online B2B market is anticipated to reach a staggering US$ 200 billion by the year 2030. Worlwide In 2023, the global b2b e-commerce market was valued at USD 7,432.12 billion. Projections indicate it will soar to USD 36,107.63 billion by 2031, marking a significant compound annual growth rate (CAGR) of 19.2% from 2023 to 2031.
India’s online B2B marketplaces hold the potential to achieve a remarkable US$ 200 billion valuation by 2030. This growth is expected to be fueled by various factors including the expanding Internet reach, advancing digital infrastructure, supportive regulatory frameworks, and a favorable cross-border environment. Furthermore, the adoption of instant payments facilitated by Unified Payments Interface (UPI), the formalization of businesses through Goods and Services Tax (GST), increased manufacturing activities via Production Linked Incentive (PLI) schemes, and companies implementing risk mitigation strategies in their supply chains are all poised to bolster the industry’s trajectory. As India’s economy is forecasted to surge from US$ 3.75 trillion to US$ 6 trillion within the next decade, a significant portion of this upswing is anticipated to stem from the digital economy, set to expand from its current US$ 100 billion valuation to a monumental US$ 1 trillion. While the initial growth of US$ 100 billion largely stemmed from consumer digitization, the next substantial leap is expected to be propelled by business digitization and the proliferation of online transactions, particularly through B2B online marketplaces. In 2022, B2B e-commerce accounted for approximately 1% of India’s overall B2B market. However, the report predicts that this share is poised to escalate to nearly 5% by the year 2030.