|Source- RedSeer Analysis

Driven by high smartphone and internet penetration, M-

tailing is expected to become a USD 75-96 billion

opportunity by 2020

M-Tailing Opportunity

in India

30%

59%

75%-80%

68%

41%

20-25%

Dec'14 Dec'15 Dec'20

Mobile GMV Desktop GMV

14.5*7*

*Annualized GMV run rate for Indian e-tailing industry in $ Billion

100-120*

$ 2.1 Bn $ 8.6 Bn $ 78 - 94 Bn

Mobile GMV includes sales from both apps and m-site

Number of Smartphone

user in India will

increase 13% in 2015

to 45% by 2020

(Source – Ericsson

Mobility report)

Internet penetration in

India will increase from

a current level of 25%

in 2015 to 54% in 2020

(Source- RedSeer)