New Delhi, Aug 19 (Reuters) – A survey by the research firm e-Book Prices, a unit of e-book publisher Simon & Schuster, has found that e-Books have risen significantly in India over the past six months, outpacing the price of a paperback book by more than 60 percent.
The rise has led to an estimated $1 billion worth of eBooks sales, up 40 percent in six months and led to a spike in sales in bookstores and online.
The e- book prices were found to be among the most competitive in the world with Amazon India accounting for about 55 percent of eBook sales, while Apple and Google are next in line at 15 percent.
eBook prices have risen at a faster pace in India than in any other country including the United States, Canada, France and the United Kingdom.
The price hike is a welcome news for book lovers, who are struggling to find enough books to fill their shelves with eBooks.
“We believe that this price hike will help the e- books become more available in India,” Simon & Schlüter chief executive officer Stephen Miller said in a statement.
Simon & Schusters eBooks, the largest e- e- Book publisher in the industry, has already seen its book sales grow in India by a hefty 40 percent, reaching $5.5 billion.
That is nearly three times its global sales, according to eBook Price.
“This is the biggest price increase in e-commerce in India since the launch of the e book in 2011,” eBook Prices founder and chairman David Krasniewski said in an interview.
As per a report by The Wall Street Journal, eBook price in India has gone up from $5 to $14.
Amazon India, which sells books through Amazon Prime, has also seen an increase in the eBook market.
The e- commerce giant said it saw a 37 percent increase in book sales in India from March to June, compared to the same period last year.
Digital book sales are growing in India with e-Commerce volume increasing by over 10 percent year-on-year to reach $6.4 billion last quarter, according data from eBookprice.
In 2017, eBooks were the most popular type of digital content on the Indian market, accounting for 16.8 percent of the total eBook downloads in the country, according a report from market research firm App Annie.