A review on Indian e-commerce

Abstract

Electronic commerce (e-commerce) or business is more than just another mode to sustain or boost existing business practices. Rather, electronic commerce is a paradigm shift. It is a disruptive innovation that is drastically altering the traditional approach of performing business. The e-commerce market is thriving and poised for robust growth in Asia, focusing in Indian context than it is showing marvelous business growth for the developing nation. The country has enjoyed exceptional augmentation of almost 50 per cent in the past five years. Although the trend of e-commerce has been making rounds in India for 15 years, the appropriate ecosystem has now started to fall in place. The extensive increase in the number of internet users, growing acceptability of online payments, the proliferation of internet-enabled gadgets and also favourable demographics are the key factors driving the growth story of e-commerce for the developing nation. The number of users making online transactions has been on a rapid growth trajectory and it is expected to grow from 11 million in 2011 to 38 million by the end of 2015. Venture capitalists (VC) and private equity players have demonstrated their confidence in the escalation of e-commerce in the India. This is sufficiently validated by the noteworthy increase in the total investments (US$305 million in 2011 against US$55 million in 2010). The present study has been undertaken to describe the present status and facilitators of e-commerce in India, analyze the present trends of e-commerce in India and examine the barriers of e-commerce in Indian context.