E-commerce – An overview with special reference to Indian economy

Abstract

E-commerce industries have seen a rapid growth in India in recent years. After the arrival of E-commerce companies, the traditional way of doing business has undergone a remarkable change. The economic reforms launched in 1991 captivated many Multi-National Corporations (MNCs) to start their businesses in India and that led to the extensive development of computers and technology in our country. The massive penetration of internet also supplemented the development of these industries. More specifically, start-up companies, businesses started using E-commerce as the primary option for differentiating their product or service from the prevailing ones. After the popularization of android or smart phones, the E-commerce companies have seen a drastic increase in their sales. The development of E-commerce mainly depends upon the awareness of people about E-commerce, the timely delivery of the product, the proper quality of the product, the payment options available to them, the variety and price of the products etc. During the pandemic a lot of people have shifted or they have at least started to purchase through electronic mode, which has undoubtedly increased the growth of E-commerce. A comprehensive study about the history and progress of electronic commerce industries has been attempted in this paper.

Subject Classification:

• 91B08
• 91B10
• 91B14

Keywords:

• History of electronic commerce
• Growth
• Economy