IAMAI says India to witness 47% growth in e-commerce market in 2011

MUMBAI: The Internet and Mobile Association of India (IAMAI) has released an official report on internet commerce industry in the country, saying that India is expected to register 47% growth in the e-commerce market during 2011, due to continuous growth in the online market of travel industry.

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

Owing to high growth in online travel marketing, the entire e-commerce market in the country is expected to achieve the market size of Rs 46,520 crore during the year of 2011. The Internet and Mobile Association of India has also estimated the Indian e-commerce market to touch the mark of Rs 31,598 crore during financial year (FY) 2010 as compared to the online commerce market size of Rs 19,688 crore, witnessed by the country during financial year 2009.