India e-commerce market to cross Rs. 46,000 Crore

Fuelled by the sustained growth of the online travel industry, the Indian e-commerce market will gallop at an impressive growth rate of 47 percent to over Rs 46,000 Crore in the 2011 calendar year.

"This growth is primarily driven by the online travel industry, which contributes 76 per cent to the total net commerce industry in India," a report released by the Internet and Mobile Association of India (IAMAI) said.

The Internet commerce industry in India has seen a manifold increase in the last couple of years, with the total market size increasing from Rs 19,688 Crore by the end of 2009 to an estimated Rs 31,598 Crore in 2010.

By the end of 2011, the net commerce market size is expected to grow by 47 percent and touch Rs 46,520 Crore, the study by the industry body said.