BANGALORE: The illusionary bubble of the Indian ecommerce burst unexpectedly when the nation didn’t find any mention in the top 30 ecommerce markets in the world.

According to a survey by AT Kearney, a management consultancy, 3 percent of the Indian population shop online and thus didn’t make it to the list of top 30 countries for 2015 Global Retail E-commerce. India’s $3.8 billion seems as small as an atom against Brazil’s online sales worth $13 billion. Besides, Saudi Arabia, Venezuela, Ireland and Chile have also surpassed India’s figures.

U.S. topped the list here as well with a staggering $238 billion while China, UK, Japan and Germany made it to the top five. The study reproved the slow internet connections and deficiency of broadband for the poor results India achieved and disclosed that only 69 percent of the Indian population have fast connections to access shopping websites. Shockingly, India’s average speed for internet is 2 mbps which ranks 115 in the world and makes it the slowest in Asia-Pacific.

The next five years predict a growth by 21 percent for the Indian ecommerce. Regardless of small number of shoppers, the nation has some big investments in its lap by global private equity firms. Companies that successfully raised $1 million Flipkart, Commonfloor, Urban Ladder, Ola Cabs and Snapdeal are the companies which successfully raised $ 1 million as investors. However, none of them have earned profits or reduced loses.  Global ecommerce giant, Amazon, announced its $2 billion investment in the Indian ecommerce in a hope to witness the same rate of growth as in China.

The investors are waiting for the time when the accessibility of the internet will improve in the nation where larger section owns credit cards. On the other hand, the Indian ecommerce will witness growth but the government should work on riving the sector to make to the list of global leaders.

Read More: India Inc. Can Outsmart Chinese Goods: Havells India
Modi Invites Global Partnership in Manufacturing Sector