Consumer digital economy of India to reach $800 bn by 2030: RedSeer

The consumer digital economy of India is estimated to reach $800 billion by 2030. It is against $85-90 billion in the calendar year 2020. According to ReedSeer report, the digital economy includes 60% of the travel business running via digital channels by the year 2030 and 25% of food and beverages services going digital by the same year. RedSeer said online retail of India is ready to become the third-largest market by scale over the next decade, including an annual gross merchandise value (GMV) of $55 billion in the year 2021 and $350 billion in the next ten years. RedSeer chief executive Anil Kumar told the media that due to the effect of Covid-19, digital services worked quite well, which is visible in high customer satisfaction and willingness to keep using digital as an essential way to satisfy their needs. The next wave of entrepreneurs will design innovations that would make the Indian model successful globally. RedSeer is one of the largest management consulting firms in India. They help the consumer internet space on growth strategy, innovative product development, and many other things. Image Source Also read: India’s global economic recovery positive: EY report Also read: India received $64 billion in Foreign Direct Investment in 2020: UN