India’s e-commerce market picked up sharply in the second half of 2017 after nearly 18 months, driven by strong growth at Flipkart and Amazon India and new entrant Paytm E-commerce. Online retail grew by 23 per cent to $17.8 bn in 2017, up from $14.5 bn in gross merchandise value (GMV) last year, according to RedSeer Management Consulting.The expansion of online retail is expected to accelerate this year, with the market projected to increase by as much as 60 per cent to $28-30 bn in GMV, which refers to the value of goods sold on a site after discounts, according to RedSeer estimates.