New Delhi, Feb. 24 -- India's online retail and services market is expected to more than double over the next five years, with the next phase of growth driven by smaller cities and middle-income groups, according to Boston Consulting Group (BCG).

The e-commerce market is projected to grow from around $140 billion at present to up to $300 billion by 2030, BCG said in its latest report. However, online spending will account for only 7-8% of total consumer expenditure, highlighting headroom for future expansion.

The report estimates that the nation's total consumer spending across products and services is expected to rise up to $3.7 trillion by 2030, up from $2.3 trillion in 2025. Despite the rapid rise of digital commerce, the report unde...