India's enormous population is well known. It is one of the most populated regions in the world, second only to China, with a population of 1.37 billion. Internet penetration is still extremely low in the country, with only 41% of the 1.37 billion people living there having access to the internet.

Due to India's large population, the e-commerce business there is still enormous despite the country's poor internet penetration. Its value was $48.5 billion in 2018 and is projected to increase fourfold to $200 billion by 2026.

It's also important to note that India is adopting smartphones and the internet at a quick rate. The proliferation of smartphones also reveals preferences for mobile commerce among the great majority of smartphone owners in India.

Top Five Indian online stores

The abundance of Indian-founded firms in the top 5 in the Indian e-commerce market is interesting. While Amazon is ranked first, there aren't many other American companies with strong positions. The majority of the top 5 brands are of Asian and Indian origin.

The Indian e-commerce market also features a good balance of pure e-commerce websites and large brick-and-mortar stores that have transitioned to e-commerce.

Even though the Indian e-commerce market is still in its infancy, there are plenty of opportunities for major and small players to seize a sizable portion of the market given the country's enormous population.

1. Amazon India

According to Statista, the American e-commerce behemoth Amazon has an audience reach of 89 percent in India. With an estimated 322.54 million monthly visits since its inception in India in 2010, the website is by far the best-performing one in the nation.

The audience interests on Amazon go towards this area, which is consistent with the overall statistics showing that electronics is the main e-commerce sector in India. However, they also provide a variety of additional goods in a number of different categories, such as Echo and Alexa, Amazon Prime digital media, men's and women's clothing, groceries, sports, cars, and more.

2. Flipkart

Despite having 100 million fewer monthly visits than Amazon, Flipkart is an Indian e-commerce success story that competes fiercely with the global giants. Flipkart, a wholly online retailer that was established in India in 2007, sold 77 percent of its ownership to Walmart in 2018 for USD$ 16 billion.

Flipkart, which follows the same patterns as Amazon, is most well-liked by its customers for products in the electronics sector. But it also carries a wide range of goods, such as TVs and appliances, clothing, furniture, sporting goods, books, and more.

3. Alibaba

Founded in China in 1999, Alibaba is a well-known prominent participant in the e-commerce industry. Alibaba is a major player in the global e-commerce market and is owned by Alibaba Group Holding, a sizable multinational conglomerate holding corporation that focuses on everything online, including e-commerce, online retail, the Internet, and technology.

Despite being significantly outperformed by its Indian rival Flipkart, Alibaba has a comparable product selection that includes items for the home and kitchen, hardware and tools, rubber and plastics, electrical supplies and equipment, vehicles and accessories, toys and hobbies, consumer electronics, clothing, and more.

5. Nykaa

Another Indian-founded company, Nykaa, defied convention by starting off as a purely online marketplace before growing and opening a physical store in the Indira Gandhi International Airport in 2015.

Nykaa was first established in 2012 as an online retailer of beauty products for the face, body, hair, appliances, personal care, fragrance, and LUXE. In more recent years, the company has increased the brands it works with and introduced its own line of cosmetics and beauty products.

5. Myntra

Myntra is a pure-play e-commerce website that originated in India and was established in 2007. Since then, it has grown to become one of the top fashion, home, and lifestyle e-commerce platforms in the nation. Its 2014 sale to Flipkart and the purchase of rival Jabong.com have both contributed to its continued growth.

As a fashion store, Myntra carries products from numerous national and international brands in the areas of menswear, womenswear, kidswear, and home.