India GTM Partners

India, charted

The case for India,
in ten charts

Ten ways to see the same story. A young, fast-digitizing economy of more than a billion people is moving up the income curve at remarkable speed. Each chart shows the last five years of actual data and the next five years of forecast, drawn from credible public sources and rounded for clarity.

01Online shoppersActual Forecast
010020030040050060021: 185185'2122: 215215'2223: 245245'2324: 270270'2425: 300300'2526: 340 (forecast)340'2627: 380 (forecast)380'2728: 420 (forecast)420'2829: 460 (forecast)460'2930: 500 (forecast)500'30ActualForecast
Online shoppers in India, millions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: Bain & Company and Flipkart, How India Shops Online. 2030 figure directional.
02E-commerce marketActual Forecast
010020030040021: 7272'2122: 8484'2223: 102102'2324: 125125'2425: 150150'2526: 185 (forecast)185'2627: 225 (forecast)225'2728: 270 (forecast)270'2829: 310 (forecast)310'2930: 345 (forecast)345'30ActualForecast
India e-commerce market, USD billions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: India Brand Equity Foundation (IBEF). 2030 projection about US$345B.
03Internet usersActual Forecast
02505007501000125021: 700700'2122: 760760'2223: 820820'2324: 886886'2425: 905905'2526: 960 (forecast)960'2627: 1010 (forecast)1010'2728: 1060 (forecast)1060'2829: 1110 (forecast)1110'2930: 1150 (forecast)1150'30ActualForecast
Active internet users in India, millions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: IAMAI-Kantar, Internet in India; WEF and Statista projections.
04Digital economyActual Forecast
02004006008001000120021: 340340'2122: 402402'2223: 470470'2324: 545545'2425: 630630'2526: 720 (forecast)720'2627: 800 (forecast)800'2728: 870 (forecast)870'2829: 940 (forecast)940'2930: 1000 (forecast)1000'30ActualForecast
India's digital economy, USD billions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: MeitY and ICRIER, Estimation of India's Digital Economy. 2030 toward US$1 trillion.
05Economy size (nominal GDP)Actual Forecast
0.02.04.06.08.021: 3.23.2'2122: 3.43.4'2223: 3.63.6'2324: 3.93.9'2425: 4.14.1'2526: 4.5 (forecast)4.5'2627: 4.9 (forecast)4.9'2728: 5.4 (forecast)5.4'2829: 5.9 (forecast)5.9'2930: 6.5 (forecast)6.5'30ActualForecast
India nominal GDP, USD trillions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: IMF World Economic Outlook and World Bank. 2030 is a projection range.
06Real-time digital payments (UPI)Actual Forecast
010020030040050060021: 2222'2122: 4646'2223: 8484'2324: 131131'2425: 186186'2526: 250 (forecast)250'2627: 320 (forecast)320'2728: 390 (forecast)390'2829: 450 (forecast)450'2930: 520 (forecast)520'30ActualForecast
Real-time digital payments, billions of transactions a year. Fiscal years. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: NPCI, national UPI statistics. 2030 projection about three times current volume.
07Smartphone usersActual Forecast
02004006008001000120021: 480480'2122: 550550'2223: 600600'2324: 660660'2425: 730730'2526: 800 (forecast)800'2627: 860 (forecast)860'2728: 910 (forecast)910'2829: 960 (forecast)960'2930: 1000 (forecast)1000'30ActualForecast
Smartphone users in India, millions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: Deloitte. 2030 trending toward 1 billion and beyond.
08Consumer spendingActual Forecast
0.01.02.03.04.05.021: 1.61.6'2122: 1.81.8'2223: 1.91.9'2324: 2.12.1'2425: 2.42.4'2526: 2.7 (forecast)2.7'2627: 3.1 (forecast)3.1'2728: 3.5 (forecast)3.5'2829: 3.9 (forecast)3.9'2930: 4.3 (forecast)4.3'30ActualForecast
India private consumption, USD trillions. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: BCG and IBEF. 2030 projection, consumption roughly doubling.
09Startup unicornsActual Forecast
05010015020021: 7070'2122: 108108'2223: 111111'2324: 115115'2425: 118118'2526: 125 (forecast)125'2627: 132 (forecast)132'2728: 138 (forecast)138'2829: 144 (forecast)144'2930: 150 (forecast)150'30ActualForecast
India's cumulative unicorn count. 2021-2025 actual, 2026-2030 illustrative. Figures approximate.
Source: Invest India and industry trackers. 2030 figure illustrative, not a formal forecast.
10IT and software services exportsActual Forecast
010020030040021: 150150'2122: 178178'2223: 194194'2324: 200200'2425: 224224'2526: 240 (forecast)240'2627: 256 (forecast)256'2728: 272 (forecast)272'2829: 288 (forecast)288'2930: 300 (forecast)300'30ActualForecast
India IT and software services exports, USD billions. Fiscal years. 2021-2025 actual, 2026-2030 forecast. Figures approximate.
Source: NASSCOM Strategic Review (exports basis). 2030 figure is an estimate.

Figures are approximate and rounded for readability, compiled from the public sources cited under each chart. Forecast years are projections, not guarantees, and the unicorn 2030 figure is illustrative. We refresh these as new data is published.

The numbers point one way

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