India, with its rapidly growing internet penetration and smartphone usage, offers a fertile ground for online businesses. According to recent reports, India’s e-commerce market is expected to grow to $120 billion by 2026, representing a compound annual growth rate (CAGR) of 51%. Starting an online business in India is not only a lucrative opportunity but also a way to tap into a market of over 700 million internet users.
Here’s a practical guide to starting an online business in India, focusing on the opportunities, challenges, and step-by-step processes involved.
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