India’s e-commerce market, dominated by Flipkart Pvt. Ltd and Amazon.com Inc., can potentially grow more than fourfold to $150 billion by 2022, fuelled by rising incomes and a surge in internet users, according to a latest report. During the period, the size of India’s middle-class is expected to swell to 540 million from 380 million in 2017, showed the report by software industry lobby group Nasscom and consulting firm PwC India. The e-commerce market was pegged at $36 billion last year.
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