White Paper · 2020. 4. 14. · White Paper | India’s E-Commerce Logistics Industry | April 2020 Page 4 Chapter 1. India’s Logistics Industry: Overview The logistics industry

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White Paper | India’s E-Commerce Logistics Industry | April 2020 Page 1

White Paper

India’s E-Commerce Logistics Industry:

Uncaged and ready to grow

Mr Saurabh Sharma

Country Director

Spire Research and Consulting

India

http://www.spireresearch.com/



Contents

1. India’s Logistics Industry

2. Growth Drivers for E-Commerce Logistics

• E-Commerce Industry: Overview

• E-Commerce Industry: Growth Factors

• E-Commerce Logistics Industry: Overview

• E-Commerce Logistics: Business Models

• E-Commerce Logistics: Value Chain of Delivery

3. Recent Trend and Developments

• Impact of GST and Revised FDI Regulations for E-Commerce

Companies

• Solving the Last Mile Delivery Challenge

4. Industry Challenges

• Product Returns in an Environment of Cash on Delivery creates

Risks for Online Sellers

• E-Commerce Logistics Challenges: Cash on Delivery

5. Indian E-Commerce Logistics: Key Players

• Overview of Key E-commerce Logistics Players

• Ekart Logistics

• Delhivery Private Limited

• Ecom Express Private Limited

6. Conclusions and Recommendations

7. References




Update on the impact of the Covid-19 pandemic in early 2020

The insights and estimates contained in this report were formulated prior to the

World Health Organization’s declaration, on 11 March 2020, of a global

pandemic relating to the currently proliferating strain of novel coronavirus that

has come to be known as Covid-19.

The Covid-19 pandemic has affected the Indian economy, consumer

behaviour and the investment decisions of firms. In late March, Prime Minister

Modi declared a three week “lock-down”. Air travel has been restricted and

individual city governments have ceased public transport services in many

cases.

The economic impact of Covid-19 is expected to be severe and the stimulus

package announced by the Indian government on 26 March 2020, at less than

one per cent of GDP, may not substantively counter these effects in the short-

term. Having said that, further government measures are likely to be taken in

the future and the effects of these are difficult to foresee at this point in time.

The full effect of the Covid-19 situation is thus hard to predict at this point in

time. Some observers expect that E-Commerce will surge as a result of more

persons staying home during curfews and lock-downs. However, the counter-

argument to this optimistic view might be that road and air traffic may face

operational difficulties due to lockdowns on vehicular traffic, road-blocks,

financial difficulties facing transport and logistics companies and other such

events.

This report should thus be understood as an attempt to define the outlook for

E-Commerce in India once the Covid-19 pandemic stabilizes and economic

activity returns to something resembling the pre-Covid-19 normalcy.




Chapter 1. India’s Logistics Industry: Overview

The logistics industry is a crucial sector, contributing significantly to GDP and

employment in India

In 2018, the Indian logistics industry was valued at USD 160 billion and employed

approximately 22 million people.

Its market size is expected to increase at an annual growth rate of ~16% to

reach USD 215 billion in 2020 and USD 500 billion by 2025.

Logistics cost in 2018 stood at 14% of GDP. The Indian government targets to

reduce this cost to 10% by 2022.

In 2017, India’s government granted the status of “Infrastructure” to the logistics

sector. This has helped the sector in terms of:

Easier access to loans/lending and Foreign Direct Investment (FDI), access

to larger amounts of funds as External Commercial Borrowings (ECB) and

eligibility to borrow from the Indian

Infrastructure Financing Company Limited

(IIFCL)

Warehousing attracted FDI of USD 7.2 billion in

2017-19. Most of these investments catered to

increased demand from E-Commerce logistics

and multi-brand retail outlets

160215

500

2018 2020 (E) 2025 (E)

Overall Logistics Market Size (USD billion)

16%

18%

Source: Niti Aayog Economic Survey (2017-18)

Source: Knight Frank Research (2019)

68

86

2019 2024 (E)

Warehousing Space

Requirement (Million Square

Meter)




The automotive sector (components and

finished vehicles) is the largest end-use

sector for logistics. However, E-Commerce is

fast becoming one of the main end-use

verticals for the logistics industry

In 2018, the automotive sector dominated

logistics, and formed 56% of total logistics

demand. However, we expect that E-

Commerce and Medium and Small Business

customers across industries would be the

main growth drivers for logistics in the coming

years.

It is expected that the share of E-Commerce

will increase from 16% of logistics revenues in

2018 to 28% by 2025.

Surface/Road transport is the most common mode of transportation in India’s

logistics sector

As of 2018, India’s logistics industry was still reliant on road transportation, which

makes up 60% of all modes of transportation used. This is in spite of road

transport having the highest cost per ton (INR 3), in comparison to rail (INR 1.5)

and coastal (INR 1).

The main reason for the industry’s reliance on road is the geographic

complexity of the country and lack of complex tracking systems necessary for

multimode transportation.

29%

15%

21%16%

19%

36%

24%21%

11%8%

0%

10%

20%

30%

40%

3PL E-Commerce Manufacturing Retail Others

Warehousing Market Share by Industry (2017-18)

2017 2018

Source: Edelweiss Research (November, 2018)

Automotive

Components,

26%

Cars and

SUVs, 17%

E-Commerce,

16%

2 & 3 Wheelers,

13%

Organized

Retail, 8%

Consumer Durables &

FMCG, 5%

Others,

15%

Logistics Market Share by

Industry (2018)

Source: Knight Frank Research (2019)




Warehousing is another key part of the logistics eco-system. Warehousing

ensures faster deliveries to end-customers. In India, the warehousing industry

obtains the most transactions from third party logistics players or 3PLs, followed

by E-Commerce.

The share of E-Commerce in warehousing revenue has grown from 15% in 2017

to 24% in 2018, in tandem with a drop in the retail industry share.

It is expected that E-Commerce will become the leading segment for

warehousing revenue over the next 4-5 years.

Express Logistics: Road transportation is also very popular for express deliveries

and accounts for approximately 55% of the total market.

It is currently dominated by small packages or documents that are less than

2kg in weight.

Express courier services for last-mile delivery are being provided by many

traditional logistics players such as Blue Dart, GATI and TCI Express.

The road express market, which is a key transport mode for the E-Commerce

sector, was valued at USD 2 billion and overall express market at USD 2.8 billion

in 2018.

The overall express market is expected to grow at 15% to 16% a year and reach

USD 25 billion by 2025.

The key attributes for this growth are the rise of E-Commerce, increasing

demand from the SME sector and supportive regulatory reforms from the

Indian government.




Chapter 2. Growth Drivers for E-Commerce Logistics

India’s E-Commerce industry is dominated by two players who control 63% of

the market

India’s E-Commerce industry has grown at an average rate of 28% in the last

decade.

In 2014, India’s E-Commerce market size was USD 14 billion. It reached USD 50

billion in 2018.

Mobile penetration, ease of shopping and the growing ability of suppliers to

make faster deliveries will continue to drive market growth towards a revenue

size of USD 64 billion in 2020.

Amazon and Flipkart are the two largest players in the Indian E-Commerce

market with a combined market share of 63% (2018). Amazon and Flipkart also

have their own captive arms which handle more than 80% of their logistics

needs.

Myntra, PayTm Mall and Snapdeal together account for 12% (2018) of the

market. These players, along with other smaller e-commerce providers, rely on

3PL and courier service providers across the country to fulfil their orders.

Source: Economic Times India (October, 2019)

Flipkart, 31.9%

Amazon, 31.1%PayTm Mall, 5.6%

Myntra, 5.0%

Snapdeal, 2.5%

Others, 23.9%

Market Share (2018)




India’s E-Commerce growth is driven by increased access to smartphones and

internet penetration

In addition, Indian telecom operators offer some of the lowest data service costs in

Asia, at USD 0.26/ GB, surpassing Indonesia, Japan and China.

The cost of data fell by ~93% from INR 269/GB (USD 3.78/GB) in 2014 to INR 18.54/GB

(USD 0.26/GB) in 2019.

295

437483

525

252299 340 374

0

200

400

600

2016 2017 2018 2019

Number of Internet and Smartphone Users in India

(Million)

Internet Users Smartphone Users

0.31.2

8.39.9

15.1

India Indonesia Japan China South Korea

Cost Per GB of Data in 2019 (USD)

Source: Statista (2019)

Source: Statista (2019)




Since 2018, Metro cities accounted for nearly half of E-Commerce logistics

industry shipments, implying lots of room for Tier II and below cities to grow

Metro City:

More than 1 million

population

Tier I City: More than

100,000 population

Tier II and Below:

Population less than

100,000

The growth of the E-Commerce industry has fuelled the growth of E-Commerce

logistics.

The market size of E-Commerce focussed logistics was estimated to be USD 1.35 billion

in 2018.

Most of E-Commerce shipments (50%) are currently in Metro cities and Tier I cities

Tier I cities are handling up to 1 million shipments daily

It is expected that rising internet penetration, growth of disposable income, and

improved logistics infrastructure will increase the share of Tier II cities and below to

50% by 2022

In 2018, E-Commerce retail sales were largely made up of electronics and apparel

with a combined revenue share of 77% for these two product categories

In terms of product categories delivered, these are largely reflective of shopping

patterns of online shoppers. As the E-Commerce sector is dominated by “Big

Horizontals”, the largest share is taken by low involvement and reliable products

such as electronics and apparel

2%

3%

8%

9%

29%

48%

0% 20% 40% 60%

Others

Books

Personal Care & Baby Products

Home Furnishing

Apparel

Electronics

E-Commerce Sales Share by Value for Product

Categories (2018)

Source: IBEF (October, 2018)

Source: KPMG Analysis (May, 2018)




E-Commerce Logistics: Business Models

This model applies a zero-inventory

system wherein the seller takes

accountability for delivering products

directly to the customers (B2C) or

through local vendors offering product

storage (B2B) prior to delivery.

The sellers also offer other digitized

services including payment platforms,

after sales services and shipment

tracking.

This is the most commonly used model,

primarily because of Indian law and low

operational costs.

In this model, the inventory is purchased

by the seller. However, it is stored and

delivered from the warehouse of the E-

Commerce player, who is also

responsible for quality checks. This model

is becoming more common over time.

Inventory is purchased and stored in the

fulfilment centers with the retailers. The

sellers simply purchase the product and

allow their retailers to store inventory in

their warehouses till the product is

packaged and delivered by these

retailers to the end-customers.

Throughout the ordering process, the

retailers are also responsible for quality

checks, packaging and on-time delivery

of the product.

Market Place Model

E-Commerce Seller

End Customer

Places Order Seller with Inventory

Seller Packs Items,

collected by E-

Commerce delivery

partner End

Customer

Receives

Order

Fulfilled by E-tailers Model

Seller has no

inventory End Customer

Places Order

E-Commerce Seller Holds Inventory

Owned by Seller

Informati

on on

inventory

Shared

Items Shipped

by E-

Commerce

Website to

customer

Inventory-Based Model

End Customer

Places Order

E-Commerce Seller Owns Inventory

Items Shipped

by E-

Commerce

Website to

customer




E-Commerce Logistics: Value Chain of Delivery

E-Commerce players’ biggest cost challenge is the last mile delivery of the

product which accounts for approximately 50% of total logistics cost

First Mile Products are dispatched from the seller to the fulfilment

centres/mother warehouses depending on the model type

(inventory-based model or market place model).

Processing Goods are sorted and processed according to the final

destinations.

Line Haul Line haul acts as the connecting link between the central supply

center and the central demand center. This can be done via

land or air, depending on distance and cost.

Last Mile Last Mile refers to the shipping of the product from mother hubs

to delivery hubs, where they are shipped out to the customers.

8%2%

43% 47%

Cost Components by Logistics Activities (2018)

First Mile Processing Line Haul Last Mile




Chapter 3. Recent Trends and Developments

Impact of GST and revised FDI regulations for E-Commerce companies

The introduction of the Goods and Services Tax (GST) in 2017 had a positive

effect on the E-Commerce logistics industry as it eased the movement of goods

across state borders.

Under the new tax regime, the interstate taxes have been removed. Due to

this, movement of goods between the states has become easier. This has

also eased the paperwork for logistics companies significantly.

Now, logistics companies have to raise E-way bills for the movement of

goods between states. These E-way bills are monitored centrally by

government bodies, giving the state better visibility of the logistics sector in

the country.

In 2018, the Indian government amended E-Commerce regulations, and

foreign ownership in subsidiaries of E-Commerce companies was capped at

25% of equity for the inventory-based model. However, 100% foreign ownership

of equity was permitted for the market place model.

After this rule, Amazon invested USD 651 Million in 2019 in its various subsidiaries

such as Amazon Seller Services, Amazon Pay and Amazon Retail. This brought

the total investment to USD 6 billion.

One key outcome from this massive wave of investment was to improve

logistics and digitize Small Medium Businesses (SMBs) to bolster growth.

100% FDI has been allowed in the warehousing sector after the logistics sector

was classified as infrastructure in 2017.

25%

FDI

Limit

(2019)

Inventory

Based Model

100% Market Place

Model

100% Warehousing

Subsidiary

Source: IBEF (2018)




Solving the last mile delivery challenge

Mom and Pop Store Partnerships have become key for solving the last mile

delivery challenge facing the logistics industry.

Last mile connectivity has been a key challenge for the E-Commerce logistics

industry. Captive arms of E-Commerce companies have some new delivery

models such as:

Partnering with small “mom and pop” shops across Tier II and below cities

for ordering and delivery of products

Flipkart partnering with 27,000 (2019) stores in 700 cities for faster delivery of

their products

Myntra partnering with 9,000 (2019) stores in 50 cities of India. They expect

this number to increase to 15,000 in by end of 2020

Amazon partnering with approximately 20,000 stores as of January 2020.

They have also started training these store owners to facilitate first time

internet users placing orders online

0

10000

20000

30000

Amazon Flipkart Myntra

Number of Mom & Pop Store Partners for Ordering and

Delivery (2019)

Delivery Model in Partnership with Mom and Pop Stores

Partner Department Store

Order placed at the store

using mobile of shop

partner

Information reaches at

warehouse

Order dispatched to store

partner Order collected by

customer from shop

We are delighted with the success of

our kirana network partners, and will

continue to provide them with

opportunities to scale deliveries,

especially during the festive season.

Amar Nagaram, Head, Myntra Jabong

“

”

Source: Financial Express (September, 2019)




23%

22%

20%

35%

Key Reasons of Return (2018)

Wrong Item

Received

Product Not

Matching

Damaged

Product

Others

30%70%

Return Rate of Shipments (2018)

Returned Accepted

Chapter 4. Industry Challenges

An environment of cash on delivery and high rates of return have created risks

for online sellers

One of the biggest challenges facing the E-Commerce logistics industry is high

rates of returns by end-customers.

Logistics companies and their partners expect the overall return rate of

shipments to be close to 30% of Gross Market Value (GMV) of all shipments

(2018).

In 2019, the average cost of shipment to

end-customers was INR 65 (~ USD .91) and

the cost of return shipment was INR 75

(~USD 1.05), Implying significant losses for

returned shipments.

On the other hand, the average ticket size

for online purchases in India is INR 1,718.5

(USD 24). The cost of logistics and reverse

logistics (8%) is seen by many observers as

unsustainable for E-Commerce companies.

Process improvements need to be made.

Source: Economic Times (May, 2019)

Total Cost of Logistics,

8%

Average ticket Size,

92%

Logistics Cost Vs Average

Ticket Size of Online Purchase

(2019)

Source: entrackr.com (December, 2018)

Source: Spire Estimates (2019)




E-Commerce Logistics Challenges: Cash on Delivery

Cash on delivery (COD) is the preferred mode of payment by online shoppers

in India

In India, all E-Commerce players offer the COD mode of payment to end

customers. It is estimated, in 2019, that COD orders account for 60% to 75% of

total orders.

Due to low penetration of credit and debit cards and/or a lack of trust in the

digital transaction process, end-customers in Tier II and below cities tend to

place COD orders for the vast bulk of their transactions.

COD creates two types of problems for E-Commerce players and logistics

service providers:

Logistics companies have to develop capabilities to collect cash from the

delivery point and manage the transactions. This cash handling function

imposes additional costs.

It has also been observed by E-Commerce companies such as Amazon and

Flipkart that prepaid orders have a lower proportion of returns in comparison

to COD orders.

Steps taken by companies to improve the situation include:

Setting limits on COD purchase ticket sizes. Some E-Commerce players such

as Snapdeal have set limits on COD purchases to INR 20,000 (~USD 280.5)

and Amazon and Flipkart have limited it to INR 50,000 (~USD 701.2) as at

2019

Training last mile delivery staff to process payments using cards at the

delivery sites or collection centers


60-75% 25-40%

Cash on

Delivery

Orders

Prepaid

Orders

Mode of Payment (2019)


Metro &

Tier 1, 38%

Tier II &

Below,

62%

Share of CoD (2018)




Chapter 5. Indian E-Commerce Logistics: Key Players

Overview of E-Commerce logistics players

E-Commerce players have developed captive logistics arms for managing

delivery of their shipments. These captive arms have the highest market share

in the E-Commerce logistics Industry.

India’s E-Commerce logistics industry manages/ships approximately 57

million shipments per month (1.9 million per day, in 2018) throughout the

country

Most of these shipments (~49%) are managed by the captive arms of E-

Commerce logistics players such as E-Kart and Amazon Logistics

E-Commerce-focused players thus have the second highest market share

in the E-commerce logistics market, followed by traditional logistics players

The top four companies in terms of shipments managed and revenue are:

Ekart (Subsidiary of Flipkart)

Amazon Logistics (Subsidiary of Amazon India)

Delhivery (E-Commerce Focused Player)

Ecom Express (E-Commerce Focused Player)

Captive

Logistics

Arms, 49%E-

Commerce

Focussed

Players,

28%

Traditional

Players,

23%

Market Share by Type of Logistics Provider

(2018)

Source: KPMG Report (May, 2018)

620.2

237.7

141.1

292.0

0

100

200

300

400

500

600

700

Revenue in USD Million (2019)

Source: Ministry of Commerce (2019)




Company Profile: Ekart Logistics

Overview

Founded: Started operation in 2009

Focus: Caters primarily to E-

Commerce companies

Shipments Managed: It manages

approximately 85% (10 million/month)

of Flipkart’s total shipments (2018)

Funding: It is a subsidiary of Flipkart

Future Plans: Launched a courier

business and pilots in hyper local

delivery business under the brand

name eQuick Services

Industries and Capabilities

Key Services Offered: transportation, warehousing, in-factory logistics, reverse

logistics, and cash management

Key Industries Catered: E-Commerce companies

Coverage: 3,800+ Pin code, 7.5 million cubic warehouse space, and 800+ cities

Key Customers: Flipkart, Paytm, Shopclues, Myntra, Aditya Birla Group, Madura

In 2016: Flipkart invested USD 98.4 million in Ekart

In 2017: Flipkart allocated USD 460 million to Ekart for strategic investments

and to expand their network of deliveries across Indian cities

In 2018: Ekart received funding of USD 229 million in three tranches from

Klick2Shop (Singapore based firm)

42.6

349.4

621.0

0

200

400

600

800

2016 2018 2019

Revenue (USD Million)

Source: techcircle.in (2019)




Company Profile: Delhivery Private Limited

Overview


Focus: Caters to both B2B and B2C

businesses in India and overseas

Shipments Managed: Handles 5-6

million packages a month

Funding: Investments by Nexus

Ventures, Softbank, and Tiger Global

Future Plans: The company is also

venturing into international E-

Commerce markets such as

Bangladesh and Dubai


Key Industries Catered: E-Commerce

companies, automobiles,

pharmaceuticals, fashion and

electronics

Coverage: 2,500+ Direct Centers,

18,000+ pin codes, 2,500 cities (2019)

Warehousing Capability: 6 million

square feet

Key Customers: Wildcraft, Flipkart,

Snapdeal, Urbantouch, Amazon

106.16

150.68

237.70

0

50

100

150

200

250

2017 2018 2019

Revenue in USD (Million)

175

1200

1800

0

500

1000

1500

2000

2015 2017 2019

Number of Cities

Source: entrackr.com (October, 2019)

Source: entrackr.com (October, 2019)

Forbes India (2019)




Company Profile: Ecom Express Private Limited

Overview


Focus: Caters primarily to E-Commerce

companies

Shipments Managed: Handles 5-6

million packages a month (2018)

Funding: Investments by Warburg

Pincus

Future Plans: The company is focusing

its efforts on improving reach and

capabilities in Tier IV cities


Key Services Offered: express services,

digital services, fulfillment services and

reverse logistics

Key Industries Catered: E-Commerce

companies

Coverage: 25,000 Pin code Average,

2,400 cities (2018), 2,500 delivery

branches

Key Customers: Nykaa, Paytm,

Jabong, Myntra, Amazon, Flipkart and

Snapdeal

68.881.2

141.11

0

20

40

60

80

100

120

140

160

2017 2018 2019

Revenue in USD (Million)

35

1400 1500

2400

0

500

1000

1500

2000

2500

3000

2013 2015 2017 2019

Number of Cities

Source: Financial Express (November, 2019)

Source: Financial Express (November, 2019)




Chapter 6. Conclusions and Recommendations

India’s E-Commerce logistics market has huge growth potential

India’s E-Commerce industry is big and growing, and will further boost the

logistics sector. The driving forces for this would be:

A more transparent tax structure: simplifying distribution across states and a

national consolidation of warehousing

Growth of online shopping: with growing trust in E-Commerce companies

and rising access to a wide range of product categories, this sector will

continue to grow well in Tier II and below cities, driving most of the growth

in the next 3 to 5 years

The logistics sector has been deemed as “infrastructure”, enabling it to get

better access to funding

➢ Given the restriction in FDI for e-market places, the logistics sector

provides foreign investors a viable way to access to India’s E-

Commerce growth story, as 100% FDI is allowed in the warehousing and

logistics sector

While the E-Commerce sector itself is concentrated, the logistics sector is

fragmented. Although the larger E-Commerce players have captured first

mover advantage, there are opportunities for companies that can address the

current challenges. These are:

Solutions that drive technology adoption, especially in the last mile sector,

such as companies that can combine payment and last mile logistics to

address the risks of returns and cash on delivery

Logistics providers in Tier II and Tier III cities that can capture the growth

pockets

Solutions to improve delivery accuracy and quality, to reduce the high rate

of returns




Chapter 7. References

https://www.niti.gov.in/niti/content/indian-logistics-sector-path-

transformation

http://www.makeinindia.com/logistics-sector

https://www.business-standard.com/article/economy-policy/logistics-sector-

to-see-500-bn-annual-investment-by-2025-prabhu-118073000534_1.html

https://www.business-standard.com/article/economy-policy/retail-boost-for-

logistics-warehousing-investment-rises-by-7-bn-in-2-yrs-119112701344_1.html

https://content.knightfrank.com/research/677/documents/en/india-

warehousing-and-logistics-india-warehousing-market-report-2018-insight-

series-2-5494.pdf

https://www.niti.gov.in/niti/content/indian-logistics-sector-path-

transformation

https://www.dsij.in/productAttachment/premarketreports/Market_IndiaLogisti

cs_Edelweiss_26.11.18.pdf

https://www.statista.com/statistics/792047/india-e-commerce-market-size/

https://economictimes.indiatimes.com/industry/services/retail/small-town-

india-helps-amazon-flipkart-record-growth-in-sales/articleshow/71449679.cms

https://www.statista.com/statistics/467163/forecast-of-smartphone-users-in-

india/

https://timesofindia.indiatimes.com/business/india-business/indias-mobile-

data-is-cheapest-globally/articleshow/68294413.cms

https://www.statista.com/topics/2157/internet-usage-in-india/

https://www.indiatoday.in/business/story/mobile-call-internet-to-become-

costlier-by-up-to-50-from-december-3-1624261-2019-12-02

https://www.ibef.org/industry/ecommerce.aspx

https://assets.kpmg/content/dam/kpmg/in/pdf/2018/05/e-commerce-retail-

logistics.pdf

https://economictimes.indiatimes.com/industry/services/retail/amazon-not-

doing-favour-to-india-by-investing-a-billion-dollars-

goyal/articleshow/73302716.cms

https://cleartax.in/s/impact-of-gst-on-e-commerce-marketplace-sellers


https://www.niti.gov.in/niti/content/indian-logistics-sector-path-transformation


http://www.makeinindia.com/logistics-sector

https://www.business-standard.com/article/economy-policy/logistics-sector-to-see-500-bn-annual-investment-by-2025-prabhu-118073000534_1.html

https://www.business-standard.com/article/economy-policy/logistics-sector-to-see-500-bn-annual-investment-by-2025-prabhu-118073000534_1.html

https://www.business-standard.com/article/economy-policy/retail-boost-for-logistics-warehousing-investment-rises-by-7-bn-in-2-yrs-119112701344_1.html

https://www.business-standard.com/article/economy-policy/retail-boost-for-logistics-warehousing-investment-rises-by-7-bn-in-2-yrs-119112701344_1.html

https://content.knightfrank.com/research/677/documents/en/india-warehousing-and-logistics-india-warehousing-market-report-2018-insight-series-2-5494.pdf





https://www.dsij.in/productAttachment/premarketreports/Market_IndiaLogistics_Edelweiss_26.11.18.pdf

https://www.dsij.in/productAttachment/premarketreports/Market_IndiaLogistics_Edelweiss_26.11.18.pdf

https://www.statista.com/statistics/792047/india-e-commerce-market-size/

https://economictimes.indiatimes.com/industry/services/retail/small-town-india-helps-amazon-flipkart-record-growth-in-sales/articleshow/71449679.cms

https://economictimes.indiatimes.com/industry/services/retail/small-town-india-helps-amazon-flipkart-record-growth-in-sales/articleshow/71449679.cms

https://www.statista.com/statistics/467163/forecast-of-smartphone-users-in-india/

https://www.statista.com/statistics/467163/forecast-of-smartphone-users-in-india/

https://timesofindia.indiatimes.com/business/india-business/indias-mobile-data-is-cheapest-globally/articleshow/68294413.cms

https://timesofindia.indiatimes.com/business/india-business/indias-mobile-data-is-cheapest-globally/articleshow/68294413.cms

https://www.statista.com/topics/2157/internet-usage-in-india/

https://www.indiatoday.in/business/story/mobile-call-internet-to-become-costlier-by-up-to-50-from-december-3-1624261-2019-12-02

https://www.indiatoday.in/business/story/mobile-call-internet-to-become-costlier-by-up-to-50-from-december-3-1624261-2019-12-02

https://www.ibef.org/industry/ecommerce.aspx

https://assets.kpmg/content/dam/kpmg/in/pdf/2018/05/e-commerce-retail-logistics.pdf

https://assets.kpmg/content/dam/kpmg/in/pdf/2018/05/e-commerce-retail-logistics.pdf

https://economictimes.indiatimes.com/industry/services/retail/amazon-not-doing-favour-to-india-by-investing-a-billion-dollars-goyal/articleshow/73302716.cms



https://cleartax.in/s/impact-of-gst-on-e-commerce-marketplace-sellers



https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-

acquires-flipkart-for-16-bn-worlds-largest-ecommerce-

deal/articleshow/64095145.cms

https://www.financialexpress.com/industry/sme/after-amazon-flipkart-now-

myntra-strengthens-logistics-for-timely-deliveries-this-festive-season/1718417/

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stores/

https://kr-asia.com/snapdeal-receives-fresh-funding-as-comeback-kid-to-

rival-indias-e-commerce-duopoly

https://economictimes.indiatimes.com/industry/services/retail/tier-ii-

ecommerce-faces-existential-crisis-expiry-date-near-small-etailers-clutch-at-

straws/articleshow/69551201.cms?from=mdr

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commerce/

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india-is-a-fantastic-revolution-says-loral-ceo/articleshow/74053639.cms

https://indianonlineseller.com/2017/03/snapdeal-discontinues-cash-on-

delivery-option-for-transactions-beyond-rs-20000/

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continue-take-cod-route?utm_pageloadtype=scroll

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https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms



https://www.financialexpress.com/industry/sme/after-amazon-flipkart-now-myntra-strengthens-logistics-for-timely-deliveries-this-festive-season/1718417/

https://www.financialexpress.com/industry/sme/after-amazon-flipkart-now-myntra-strengthens-logistics-for-timely-deliveries-this-festive-season/1718417/

https://techcrunch.com/2020/01/18/amazon-india-kirana-neighborhood-stores/

https://techcrunch.com/2020/01/18/amazon-india-kirana-neighborhood-stores/

https://kr-asia.com/snapdeal-receives-fresh-funding-as-comeback-kid-to-rival-indias-e-commerce-duopoly

https://kr-asia.com/snapdeal-receives-fresh-funding-as-comeback-kid-to-rival-indias-e-commerce-duopoly

https://economictimes.indiatimes.com/industry/services/retail/tier-ii-ecommerce-faces-existential-crisis-expiry-date-near-small-etailers-clutch-at-straws/articleshow/69551201.cms?from=mdr



https://entrackr.com/2018/12/amazon-product-return-rate-india/

https://ithinklogistics.com/blog/how-cash-on-delivery-dominates-indian-e-commerce/

https://ithinklogistics.com/blog/how-cash-on-delivery-dominates-indian-e-commerce/

https://economictimes.indiatimes.com/industry/services/retail/e-comm-in-india-is-a-fantastic-revolution-says-loral-ceo/articleshow/74053639.cms

https://economictimes.indiatimes.com/industry/services/retail/e-comm-in-india-is-a-fantastic-revolution-says-loral-ceo/articleshow/74053639.cms

https://indianonlineseller.com/2017/03/snapdeal-discontinues-cash-on-delivery-option-for-transactions-beyond-rs-20000/

https://indianonlineseller.com/2017/03/snapdeal-discontinues-cash-on-delivery-option-for-transactions-beyond-rs-20000/

https://yourstory.com/2017/11/year-demonetisation-e-commerce-customers-continue-take-cod-route?utm_pageloadtype=scroll

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https://www.ibef.org/download/e-commerce-dec-2018.pdf

Documents

White Paper · 2020. 4. 14. · White Paper | India’s E-Commerce Logistics Industry | April 2020 Page 4 Chapter 1. India’s Logistics Industry: Overview The logistics industry