The Indian eB2B market

The growth of the electronic business-to-business (eB2B) market in India is a positive sign for the Indian economy. It is a type of e-commerce that refers to the sale of goods and services between businesses. eB2B transactions can take place through a variety of channels, including online marketplaces, direct sales, and electronic data interchange (EDI).

The data point shows that businesses in India are increasingly adopting digital technologies, and it is a sign that the country is on track to become a major e-commerce market in the years to come. The eB2B market is expected to solve the challenges in the unorganised retail segment dominated by general trade.

The eB2B market is a large and growing market. In 2021, the global eB2B market was valued at $19.6 trillion. It is expected to grow to $27.7 trillion by 2027.

The Redseer report found that platforms catering to retailers constituted 70-80% of the eB2B market while the remaining dealt with wholesalers. India's eB2B market is projected to grow from $5-6 billion in CY 2022 to $90-100 billion by 2030 at a compound annual growth rate of 40-45%.

The eB2B market is growing at a faster speed and it is credited to a number of factors, including:

· As more and more businesses and individuals gain access to the internet and smartphones, they are increasingly turning to online platforms to conduct their B2B transactions.

· Businesses are looking for ways to streamline their operations and save time and money. E-commerce platforms offer a convenient and efficient way to source products, manage inventory, and make payments.

· The increasing availability of digital payment solutions, such as credit cards, debit cards, and e-wallets, has made it easier for businesses to make and receive payments online.

· Governments around the world are increasingly supporting the development of e-commerce ecosystems. This support includes providing tax breaks, regulatory relief, and infrastructure development.

The growth of the eB2B market is a sign of the growing digitization of the global economy as more and more businesses adopt e-commerce. As more and more businesses adopt e-commerce, the eB2B market is likely to continue to grow in the years to come.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA