India Gift Card Market (2025-2031) | Companies, Outlook, Value, Analysis, Forecast, Share, Competitive Landscape, Size & Revenue, Growth, Industry, Segmentation, Trends

India Gift Card Market Growth Rate

According to 6Wresearch internal database and industry insights, the India Gift Card Market is anticipated to rise at a compound annual growth rate (CAGR) of 14.7% during the forecast period 2025 2031.

Five Year Growth Trajectory of the Germany Gift Card Market with Core Drivers

Below mentioned are the evaluation of years wise growth rate along with key growth drivers:

Topics Covered in the Germany Gift Card Market Report

India Gift Card Market report thoroughly covers the market by product, functional attribute, industry vertical, and merchant. The report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.

Germany Gift Card Market Highlights

India Gift Card Market Synopsis

India Gift Card Market is set for substantial expansion, driven by rising digital payments adoption, growing e commerce penetration, and increasingly popular corporate incentive programmes. Urban and semi urban consumers are demonstrating a stronger preference for gifting solutions that offer convenience and flexibility. Simultaneously, companies are turning more frequently to gift cards as an efficient mechanism for employee rewards and customer loyalty.

Evaluation of Growth Drivers in the India Gift Card Market

Below are some prominent drivers and their influence on the India Gift Card Market dynamics:

India Gift Card Market is projected to register a strong CAGR of approximately 14.7% during the forecast period 2025-2031. The market is being driven by rapid digital transformation, growing e-commerce ecosystems, and evolving gifting norms. Digital gift cards are becoming mainstream, benefiting from improved payment infrastructure and increased acceptance across retail and corporate domains. Additionally, expanding connectivity in smaller cities and the use of gift cards for rewards and loyalty programmes create favorable conditions for sustained India Gift Card Market Growth.

Evaluation of Restraints in the India Gift Card Market

Below are some major restraints and their influence on the India Gift Card Market dynamics:

India Gift Card Market Challenges

India Gift Card Industry faces several challenges that could hamper its growth. These include the slow adoption of digital payments in rural regions, especially due to lack of digital infrastructure and awareness. Additionally, complexities around the redemption of gift cards in offline stores, security concerns around digital transactions, and high transaction fees could hinder wider adoption. Furthermore, intense competition from other gifting and reward solutions could present challenges in sustaining market growth.

India Gift Card Market Trends

Some of the key market trends influencing the dynamic landscape of the India Gift Card Market include:

• The Rise of Digital & E Gift Cards: Electronic gift cards are growing in prioritization over physical gift cards because they are delivered instantly, easy to redeem and can have lower costs of logistics.
• Personalisation & Co Branding of Gift Cards: Gift cards are being designed to showcase brand and occasion specific designs, and are often issued in partnerships with retail/e commerce websites to make them more attractive.
• Embedded Gift Cards in Loyalty & Incentive Programmes: Retailers and corporates are including gift cards as a part of loyalty programming, replacement ecosystems, and employee reward programmes to increase engagement.
• Expansion of Acceptance as well as Merchant Networks: There are efforts being made to include gift card acceptance at wholesale shops stores as well as expand the overall merchant network linking digital and physical channels, while improving availability for consumers.

Investment Opportunities in the India Gift Card Industry

Some of the key investment opportunities in the India Gift Card Industry include:

• Platform Development for E Gift Cards: Investments in tech platforms that allow for seamless issuance, customisation and in app/wallet integration of digital gift cards.
• Corporate Gift Card Solutions Development: Developing bespoke corporate gift card solutions, including bulk issuance, co-branding, and integrations with platforms for customer and employee reward programmes.
• Merchant Network Development &acceptance Infrastructure: Building or scaling merchant networks of accepting merchants.

Top 5 Leading Players in the India Gift Card Market

Here are some of the leading companies in the India Gift Card Market:

1. Amazon India

This company offers a variety of e-gift cards that can be redeemed on their vast online platform, providing flexibility and convenience for consumers.

2. Flipkart

Flipkart offers both physical and digital gift cards across various categories, making it a prominent player in the Indian gift card space.

3. BookMyShow

BookMyShow provides gift cards primarily focused on entertainment, including movies, events, and experiences.

4. Tata CLiQ

Tata CLiQ offers digital gift cards for various retail categories, with a focus on high-end electronics and fashion.

5. Myntra

Myntra provides a range of gift cards, focusing on fashion and lifestyle, catering to both individual consumers and corporate institutions.

Government Regulations Introduced in the India Gift Card Market

According to Indian Government Data, the regulatory environment in India requires more transparency and disclosure about the validity, expiry, and redemption terms of gift cards. New regulations aim to help mitigate unredeemed balances and enhance consumer confidence and trust. Regulations on digital payments infrastructure (for example, prepaid instruments) have an influence on how gift cards are issued and distributed in India.

Future Insights of the India Gift Card Market

The India Gift Card Market is expected to remain on its strong growth trajectory, driven by the move to cashless payment systems, greater pervasion of e-commerce, and increasing corporate engagement with gift cards. Digital gift cards, integration with mobile wallets, and expansion of acceptance by offline merchants provide meaningful opportunities in the India gift card market. Personalization, co-branding, and loyalty enhancements are expected to drive differentiation in the India gift card economy and increase engagement across consumer and corporate segments.

Market Segmentation Analysis

The report offers a comprehensive study of the following market segments and their leading categories.

By Product – E Gift Cards to Dominate the Market

The E Gift Cards category is expected to dominate the India Gift Card Market Share, reflecting the increasing preference for digital delivery, instant redemption, and greater convenience for online shoppers and younger consumers.

By Functional Attribute – Closed Loop to Dominate the Market

The Closed Loop segment (cards issued for specific brands or merchant networks) is projected to lead, given strong retailer issuance and targeted use cases, though Universal Accepted Open Loop and E-Gifting attributes are growing rapidly.

By Industry Vertical – Retail to Dominate the Market

The Retail vertical is the dominant segment, driven by gift card issuance by retail brands, e-commerce platforms, and merchant chains to serve consumer gifting demand, complemented by corporate institutional use.

By Merchant – Restaurants to Dominate the Market

According to Mohit, Senior Research Analyst, 6Wresearch, among merchant categories, Restaurants are set to lead the gift card usage, followed by Discount Stores, Coffee Shops, Departmental Stores, Grocery/Food Supermarkets, Entertainment and Others, as gift cards become popular for dining, casual gifting, and outing experiences.

Key Attractiveness of the Report

• 10 Years of Market Numbers
• Historical Data Starting from 2021 to 2024
• Base Year: 2024
• Forecast Data until 2031
• Key Performance Indicators Impacting the Market
• Major Upcoming Developments and Projects

Key Highlights of the Report:

• India Gift Card Market Outlook
• Market Size of India Gift Card Market, 2024
• Forecast of India Gift Card Market, 2031
• Historical Data and Forecast of India Gift Card Revenues & Volume for the Period 2021- 2031
• India Gift Card Market Trend Evolution
• India Gift Card Market Drivers and Challenges
• India Gift Card Price Trends
• India Gift Card Porter's Five Forces
• India Gift Card Industry Life Cycle
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Product for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By E-Gift Cards for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Physical Cards for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Functional Attribute for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Closed Loop for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Universal Accepted Open Loop for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By E-Gifting for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Industry Vertical for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Retail for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Corporate Institutions for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Merchant for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Restaurants for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Discount Stores for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Coffee Shops for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Departmental Store for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Grocery Store/Food Supermarkets for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Entertainment for the Period 2021- 2031
• Historical Data and Forecast of India Gift Card Market Revenues & Volume By Others for the Period 2021- 2031
• India Gift Card Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Functional Attribute
• Market Opportunity Assessment By Industry Vertical
• Market Opportunity Assessment By Merchant
• India Gift Card Top Companies Market Share
• India Gift Card Competitive Benchmarking By Technical and Operational Parameters
• India Gift Card Company Profiles
• India Gift Card Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

• E-Gift Cards
• Physical Cards

By Functional Attribute

• Closed Loop
• Universal Accepted Open Loop
• E-Gifting

By Industry Vertical

• Retail
• Corporate Institutions

By Merchant

• Restaurants
• Discount Stores
• Coffee Shops
• Departmental Store
• Grocery Store/Food Supermarkets
• Entertainment
• Others