India $64B Opportunity in 2021

“Indian consumers have started embracing e-commerce with great zeal. According to Forrester, India is the fastest-growing online retail market in the world that will reach $64 billion by 2021, growing at a CAGR of 31.2%. The global payments leader, Worldpay, estimates that India will outshine the US to become the second largest e-commerce market globally by 2034.

The growth potential of this sector is causing Indian e-commerce players to bolster their technological investments with Artificial Intelligence (AI) and Machine Learning (ML) being the pivotal area. Experts estimate that Amazon India, Flipkart and Paytm Mall will spend nearly $2.5 billion on AI and ML in 2018.”

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