This country's about to be next big Web economy
India is on the verge of becoming the next great Internet economy, and it's being driven by mobile apps and services.
So says Mary Meeker in her "2015 Internet Trends" report, delivered on Wednesday at the Code Conference. The country has 232 million Internet users, representing 37 percent year-over-year growth.
"USA was the first market to get to mainstream, China was next. It looks like India will be next," said Meeker, a partner at the venture firm Kleiner Perkins Caufield & Byers. "The Internet is much more mobilized in India than in other markets in the world."
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India is the second-biggest country in terms of monthly active users for Facebook (NASDAQ: FB) and LinkedIn (NYSE: LNKD) and the largest for WhatsApp. Sixty-five percent of total Internet traffic in the country comes via mobile, second only to Nigeria.
In terms of mobile e-commerce, Indian consumers are more prolific than anywhere else in the world, with 41 percent of online sales coming via phones versus about 33 percent in China and 15 percent in the U.S. Snapdeal and Flipkart are the biggest domestic e-commerce players.
Meeker started publishing her annual Internet trends report while an analyst at Morgan Stanley (NYSE: MS) and brought the franchise with her when she joined Kleiner Perkins in 2010.
The 197-page report covers many of the most talked about themes in tech, including the growth of the on-demand economy, opportunities for drones and the surging popularity of mobile apps.
Re/code has the full set of slides here.
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