E-commerce in India

India’s E-Commerce Industry – Clicking The Economic Growth

Evolving times have ushered a remarkable transformation in the way commerce gets transacted globally. From the outmoded concepts of a physical store languishing in some inaccessible narrow alley or a perpetually congested street, contemporary businesses have earmarked their latest web portal addresses on the ever-expanding internet, whereby, guaranteeing a hassle-free experience for insatiable shoppers. To say the e-commerce industry has successfully metamorphosed the entire shopping paradigm, into a compelling click-of-a-button avatar, is an underestimation.

Doubtlessly, with its rapidly swelling population statistics, steadily growing list of millionaires and predominantly young demography, India forms the core of the E-Commerce sector on the planet, even as websites pop up by the minute. According to a conservative estimation, revenue from the Indian e-commerce industry is slated to accretion from an already impressive US$39 billion in 2017 to a mind-boggling US$120 billion in 2020, thereby, pointing towards the magnitude of economic opportunities it entails.

No wonder, each day newer entrepreneurial ventures as start-ups are beginning to mushroom cutting-across the various vocations of merchandising, such as multi-seller platforms, not only offering employment options but, exponentially broadening the taxation bracket for the government at the helm. Indeed, a new entrant a day has set the E-commerce avenues buzzing with hectic trade activity, hotting up the competition among business adversaries.

Additionally, buoyed with the effervescent consumer e-commerce business in India, the revered Blue Chip Private Equity companies namely, Tata Capital, Reliance Industries, Bharti Airtel, Tata Consultancy Services to cite a few, have undergone a drastic change of strategy, as they proactively seek lucrative deals in the staggering US$120 billion online retail space. Indeed, a new entrant a day has set the E-commerce avenues buzzing with hectic trade activity, hotting up the competition among business adversaries. Hence, explaining the exigency (urgency) within corporate houses for embracing a multi-pronged methodology augmenting their business a notch higher.