The online retail industry in India is likely to be worth Rs 7,000-crore by 2015, due to easy availability of broadband services and increasing internet penetration, according Associated Chambers of Commerce and Industry of India.

India is set to become the third largest nation of internet users in the next two years with a large chunk of youngsters eager to adopt new technologies with rapidly changing lifestyles, the industry body said.

"A booming economy and rising disposable incomes have contributed to the evolution of online shopping," ASSOCHAM Secretary General D S Rawat said.

The buying-selling trends from leading online shopping portals indicated that online retail market currently stands at Rs 2,000 crore and is growing at a steady annual rate of 35 per cent.

The survey conducted by ASSOCHAM, between January to June across 10 cities, in which 5,000 shoppers were interviewed, revealed that most online shoppers used 
internet to evaluate options by gathering information on available products and prices or buy low-value items like gift products, but opted for final transactions at the traditional retail outlets.

"But now the trend is changing fast. Leading companies have gauged the potential of online retail industry and are gearing up fast to cash-in," said Rawat.

About 40 per cent of respondents said they preferred to shop online for convenience it offered and also to collect detailed product information.