The 54th Annual Meeting of the World Economic Forum (WEF), held from January 15th to 19th, 2024, bestowed its grand stage upon the picturesque Davos-Klosters in Switzerland. India, with its resplendent growth story, digital public infrastructure landscape, burgeoning startup ecosystem, and expanding energy sector, commanded a significant presence at this prestigious event. India's impact reverberated throughout the summit, with the country proudly showcasing its accomplishments through three exclusive lounges: the India Engagement Centre, the Experience India Centre, and the India Investment Centre.
The 54th Annual Meeting of the World Economic Forum (WEF), held from January 15th to 19th, 2024, bestowed its grand stage upon the picturesque Davos-Klosters in Switzerland. India, with its resplendent growth story, digital public infrastructure landscape, burgeoning startup ecosystem, and expanding energy sector, commanded a significant presence at this prestigious event. India's impact reverberated throughout the summit, with the country proudly showcasing its accomplishments through three exclusive lounges: the India Engagement Centre, the Experience India Centre, and the India Investment Centre.
India's e-commerce industry has been growing rapidly, with the market expected to reach $200 billion by 2026 and $350 billion by 2030. This growth can be attributed to increasing internet penetration, rising digital literacy, and the expanding digital footprint in Tier III and IV areas, as well as rural India. The Indian government has played a significant role in fostering this growth, allowing 100% FDI under the automatic route for B2B e-commerce and the marketplace model of e-commerce. This has attracted both domestic and foreign investors, leading to a surge in investments and innovation in the e-commerce space. The e-commerce revolution in India has brought about significant positive changes to the nation's economy, revolutionizing the shopping experience for millions of consumers. It has expanded the reach and growth prospects of small sellers and MSMEs, enabling them to overcome previous challenges such as higher operational costs and limited market access.