The internet has become an integral part of our lives. Its absence, even for a day, leaves individuals as well as organizations crippled and disturbed. The internet has been widely used in India ever since its introduction in the country. However, e-commerce is a concept that has picked up only lately. Shopping in India online is relatively a new concept but has gain momentum over the last few years.
The process of offering and availing products/services over the internet is known as E-Commerce. The transactions take place online in most cases. Users in India mostly order or sell various commodities and services such as Diwali gifts, Raksha Bandhan gifts, MP3 players, Apple iPods, healthcare services, offshore projects and much more.
There are various factors that deter a few internet users from dealing online and one of the reasons is the lack in security of transactions, as one also needs to submit their financial details. Moreover, the number of credit and debit card holders in the country is lesser as compared to the number of internet users in the country. The adverse taxation rules also affect the growth of e-commerce in India. On the other hand, industry experts believe e-commerce has a lot of scope in India and is expected to reach $200 billion in the coming years. Consequently, several big and small companies have opened to reap the benefits of B2Band B2C portals on the internet.
E-commerce has proved to be a boon to innumerable small and medium enterprises that have collaborated with major online websites to display their products and services. Analysts predict that in the next one-two years the number of local retailers would increase to nearly 50,000 and the number of online merchants would go up to around 50 million.
A few sectors in India that have shown incredible increase in online shopping are air and rail ticket booking, estimated at INR 30 crore and are sold every day. Items that sell every minute are jewellery piece and mobile phones, and a car every hour on popular e-shopping sites.
