Payoneer: Ecommerce in India Booming

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For example, Payoneer payment platform informs about Ecommerce Booming in India and we can read the following there.

The Indian eCommerce market has grown significantly in the last few years. As a result, many cross-border businesses have undergone a fast-paced digital transformation and contributed to surpassing the government-set $400 billion target of trade within a single year.

This has partly been due to the ‘Make in India’ program, as well as shifting customer demands around the world. But as Indian cross-border merchants aim to thrive within rapidly changing market conditions, we set out to understand whether they feel confident to take a ‘Made in India’ product and succeed globally. If they do, what is it that gives them this confidence, and if not, which areas need improving, and how?

We surveyed Indian-based cross-border sellers in today’s post-pandemic world to uncover the key elements that have helped them succeed so far, and the challenges preventing them from being even more successful in the future.

As our findings show, Indian sellers have moved on from the pandemic and have made healthy progress thanks to the ‘Make in India’ program. They are up to the global challenge of providing quality products at competitive pricing and can easily match their biggest competitor, China.

But when almost half of all respondents claim that the biggest weakness in Indian cross-border trade lies in marketing their products abroad, it’s clear there could be problems ahead if these are not addressed. Furthermore, with large ambitions to expand their reach by selling into the US, they will have to raise their game if they are to succeed in this notoriously competitive market and beyond.

Key Takeaways

One in three Indian sellers think that marketing is their biggest weakness when it comes to selling an Indian-made product
– 42% of Indian sellers think that improvements are needed in promoting the ‘Make in India’ program globally
– 91% of Indian sellers are planning to expand their cross-border business
– 94% of Indian sellers think that ‘Make in India’ products are globally competitive
– 70% of India sellers think that the Quality of Indian-made products is what helps them in the international arena

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