New Delhi, May 19(CXO Media): ICICI Securities report says Flipkart continues to lead India’s online retail market while Amazon ramps up investments and quick-commerce expansion.
Flipkart continues to hold the largest share in India’s e-commerce market. A recent ICICI Securities report estimates the Walmart-owned company controls nearly 50-60 percent of the country’s gross merchandise value (GMV), supported by an estimated 220-240 million monthly active users.
The report said Flipkart has retained its lead by strengthening its presence in high-value product categories, especially smartphones, electronics and home appliances. These segments reportedly contribute around 63-64 percent of the platform’s category mix, helping drive higher order values compared to rivals focused more on low-cost products.
According to the report, Amazon India holds an estimated 25-30 percent GMV share, while Meesho accounts for nearly 10 percent of the market. Competition in the sector is expected to intensify as Amazon increases investments in logistics and quick-commerce operations.
Amazon recently announced a Rs 2,800 crore investment to expand its India operations network and scale services such as Amazon Now, amid rising demand for faster deliveries.
ICICI Securities estimates India’s e-commerce market, valued at nearly $70 billion in FY25, could grow to $174-214 billion by FY30, driven by digital payments adoption, internet penetration and stronger demand from non-metro cities.
