Amazon Steps Up to Dominate the World’s Fastest-Growing E-Commerce Market
According to Forrester Research, India is the world's fastest-growing e-commerce market. Though the country currently lags China and the U.S. in terms of e-commerce revenue generation, it holds a lot of potential as the industry is growing at a terrific CAGR (compound annual growth rate) of over 31%.
By 2021, India's e-commerce sales are expected to hit $64 billion, and it is likely that the growth will continue beyond that as the majority of the population still resides in smaller cities and towns. E-commerce giant Amazon (NASDAQ: AMZN) doesn't want to miss this gravy train, so it isn't leaving any stone unturned to tap the massive opportunity in India.
The company has made numerous moves to expand its business in India in recent months, but its latest expansionary measures could take it to another level. Let's see how.
Source: Fool.com
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