Citing that India’s ecommerce sector is growing at the fastest pace in the world, the Competition Commission of India (CCI), in its new report, estimated that the revenue from this segment will reach $120 Bn in 2020, growing at an annual rate of 51%. In 2017, the revenue from ecommerce segment stood at $39 Bn. ‘The Market Study On Ecommerce In India’ report, which was published on Wednesday (January 8), highlighted that the growth in the ecommerce sector is fueled by the increased penetration of smartphones as well as the internet in Tier 2 and Tier 3 cities. Additionally, the report cited that the introduction of cash of delivery as a payment method by ecommerce platforms helped in gaining the trust of users, thereby increasing the number of online orders. Other factors that helped the ecommerce industry to boom were discounts and deals offered by the marketplaces, faster deliveries, and access to a large product range, especially in Tier 2 and Tier 3 cities where choices were limited earlier.