India has an Internet user base of about 375 million (30% of population) as of Q2 of 2015. Despite being the second largest user base in world, only behind China (650 million, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 M, 84%), or France (54 M, 81%), but is growing at an unprecedented rate, adding around 6 million new entrants every month. The industry consensus is that growth is at an inflection point.
In India, cash on delivery is the most preferred payment method, accumulating 75% of the e-retail activities. Demand for international consumer products (including long tail items) is growing much faster than in-country supply from authorized distributors and e-commerce offerings.
As of Q1 2015, six Indian e-commerce companies have managed to achieve billion-dollar valuations. Namely, Flip-kart, Snap-deal, and Paytm.
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