New Delhi, April 10 -- India's online retail market capped 2025 with renewed vigour as e-retail gross merchandise value (GMV) scaled to nearly $65-66 billion, growing 19-21% in value terms, according to a report by Bain & Company compiled in collaboration with Flipkart. The report - How India Shops Online 2026 - sees India's e-retail market at $170-180 billion by 2030, sustaining 20%-plus annual growth, propelled by rising shopper penetration and spend per shopper. It said India has emerged as a global leader in quick-commerce (a term that denotes instant and ultra-fast local delivery service), with 16-17% of e-commerce GMV flowing through q-commerce, significantly ahead of most markets, including China. The segment has doubled annually over the past two years, reaching $10-11 billion GMV (or total sales value) in 2025. Looking ahead, it is expected to reach $65-70 billion by 2030 and contribute 45-50% of incremental e-retail GMV as traditional e-retail continues to anchor the overall e-retail market with 60-65% share by 2030. The report said that overall growth also accelerated through the year, supported by improving macroeconomic conditions and consumer sentiment. The private consumption growth rose from 8% (2022-24) to 10.5% in 2025, driven by the recent goods and services tax (GST) cuts, income tax relief, easing inflation, and lower lending rates. "This momentum drove second-half growth of 22-24% and an estimated 23-25% growth in Q1 2026, reflecting a broader revival in consumption and discretionary spending," the report said. As per the report, India is emerging as a critical global consumption engine, poised to capture 1 in 8 incremental consumption dollars over the next five years. While India's e-retail market witnessed a healthy growth in the previous year, the broader retail sector's trajectory towards $1.6 trillion by 2030 underscores that offline infrastructure remains indispensable to reaching the majority of Indian consumers. India's online shopping market has more than doubled over the last five years, with the shopper base doubling to 290-300 million shoppers in 2025, supported by rapid seller ecosystem expansion (that tripled over the past five years) and deeper geographic penetration. "Gen Z has emerged as a critical cohort accounting for 40-45% of e-retail shoppers, contributing 50% of incremental e-retail orders in 2025, with 2.5x (times) faster spend per shopper growth versus other cohorts in metros," it observed....