The country had witnessed retail e-commerce sales of $5.3 billion (roughly Rs. 33,661 crores) last year, according to eMarketer estimates of digital and brick-and-mortar retail sales around the world.
Retail e-commerce sales, including all products ordered over the Internet except travel, will grow 45.2 percent to $7.69 billion this year, it added.
E-commerce has taken India by a storm and has shown potential to grow further with the Indian government, firms and investors trying to capitalise on its popularity.
Last year saw big investors from India and abroad putting their money on various e-commerce ventures, which got funds to the tune of $3 billion from individuals, companies and private equity firms.
The industry players expect the fund inflows to continue, or may be get stronger in 2015 as well.
A report by consulting firm Technopak pegs the $2.3 billion (roughly Rs. 14,607 crores) online retailing market to reach $32 billion by 2020.
Another report by consultancy firm PwC and industry body Assocham suggests that e-commerce firms are expected to spend up to $1.9 (roughly Rs. 12,067 crores) billion by 2017-2020 on infrastructure, logistics and warehousing.