India’s internet base to touch 730 million by 2020: NASSCOM
Q. NASSCOM has said India’s internet base will touch which figure by 2020?- Published on 18 Aug 16
a. 720 million
b. 730 million
c. 740 million
d. 750 million
ANSWER: 730 million
According to NASSCOM, web users in the country are expected to more than double to 730 million by 2020 as rural India adopts Internet in increasing numbers.
- The NASSCOM report entitled The Future of Internet in India, compiled by NASSCOM and Akamai Technologies posits that the internet base in the country measured around 350 million towards 2015 end.
- India has an internet user base next only to China.
- According to the report, it will remain the fastest growing market.
- The report also said that 75 percent of new internet users will be from rural areas.
- A majority of the new users are going to consume data in local languages, according to the report.
- India’s internet consumption has already exceeded US to become number two globally and internet will create more opportunities for the rural hinterland by 2020.
- The present NASSCOM president is R Chandrashekhar.
- NASSCOM report also says increasing internet usage is fuelling e-commerce, which accounts for two thirds of the total e-commerce market edging out travel.
- As per the report, the overall e-commerce market in India was valued at USD 17 billion in 2015-2016.
- By 2020, it is expected to reach USD 34 billion with 175 million individuals transacting online.
- India will have around 702 million smartphone users by 2030; a majority will prefer mobile phones for shopping accounting for 70 percent of total online shopping.
- Online travel bookings will also gain traction with 50 percent of the travel related transactions to be made online by 2020
- A major beneficiary of internet growth is financial technology in the nation with the fintech market expected to grow 1.7 times between 2015-2020
- NASSCOM also estimates funding in these startups in 2015 at USD 420 million, 10 times that of USD 40 million invested in 2014.