India’s marketplace market hits a fast track

India’s growing B2B marketplace sector is expected to hit a major milestone, says a new report from an investment banking firm.

By 2027, the gross merchandise volume generated on Indian B2b marketplaces and ecommerce sites is projected to reach $125 billion from $20 billion in 2022, says a new B2B Marketplaces report from Avendus Capital.

“Indian B2B trade, one of the largest and fastest-growing B2B markets globally,” the report says.

India’s B2B marketplace is also attracting lots of investment capital, the report says. There already are more than 100 marketplace companies with a market capitalization of around $1 billion.

Some of the biggest companies raising the most funds include Reliance Industries Ltd., an Indian multinational conglomerate, headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. To date the company has a market capitalization of $193 billion, says Avendus.