Razorpay, a full-stack payments and banking platform for businesses, has launched the first edition of its International Payments Report titled ‘From India to the World'. The report analysed over 10 million transactions processed on Razorpay’s platform in the last two years, between April 1, 2021 and July 31, 2023, to understand how India performed on a global scale.

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The findings suggest that if 2021 saw a boom in digital payments, 2022-23 witnessed a veritable explosion.

"Indian OTT platforms saw an increase of 194 percent in revenue from international viewers in the last two years and 361 percent increase in international transactions. India has also reimagined and reshaped classrooms for the 21st century. With over 4,450 ed tech startups in India today, Indian ed-tech businesses have bolstered the e-learning ecosystem, witnessing 51 percent more sales for e-learning platforms internationally over the last year," the report said.

Also, India saw 163 percent increase in sales for Indian fashion brands globally. Indian SaaS (Software As A Service) companies recorded a 73 percent increase in their international sales, while India’s PaaS (Platform as a Service) witnessed a skyrocketed 74 percent growth in purchase over the last year. Online travel agencies witnessed a 14x increase in international payments and a 12x hike in transactions from travelers globally, it said.

(Edited by : Anshul)

First Published:Aug 7, 2023 5:44 PM IST