India's e-commerce to be worth $20 billion by 2015

A report by Motilal Oswal Securities announced that the e-commerce market in India is expected to grow 37% to reach $20 billion by next year, on the back of a growing Internet population and increased online shoppers. The report said currently online travel dominates the e-commerce market but in the future e-tailing will drive the growth. Within e-tailing fashion is likely to be the driving segment as fashion was $559 million in 2013 and estimates peg the growth in fashion e-tailing to between $3 billion and $6 billion by 2016. The report also said the money raised by Flipkart, lately Snapdeal, and that committed by Amazon is yet to be invested, indicating that it is nowhere near the end of round-the-clock discount seasons at online stores.