Country's digital commerce market is likely to touch $128 billion (roughly Rs.8,53,238 crores) in 2017 from the current level of $42 billion (roughly Rs.2,79,953 crores) on the back of higher mobile and Internet penetration and mobile-commerce sales, says a study.
"Increasing mobile and Internet penetration, m-commerce sales, advanced
shipping and payment options, exciting discounts, and push into new international
markets by e-businesses are the major drivers of this unprecedented growth," a
joint study by Assocham-Deloitte said.
The Indian digital commerce market is expected to reach $128 billion in 2017 from
the current level of $42 billion, it added.
However, Assocham Secretary General D S Rawat said the supply chain and
like India where infrastructure is not well-developed to reach every remote and
logistics in e-commerce business are highly complex to manage in a vast country
like India where infrastructure is not well-developed to reach every remote and
rural area.
It also said, the government's ambitious 'Digital India' project that aims to offer a
one-stop shop for government services will further bolster the sector by introducing
internet and broadband to remote corners of the country and increase trade.
It also said, the government's ambitious 'Digital India' project that aims to offer a
one-stop shop for government services will further bolster the sector by introducing
internet and broadband to remote corners of the country and increase trade.
This initiative through a targeted investment of nearly $17 billion (roughly Rs.
1,13,315 crores) will transform India into a connected economy, attract investment
in electronics manufacturing and create millions of jobs, said Rawat.
The study further pointed out that dedicated e-commerce laws are required to
address issues in the sector's legal and regulatory framework and banks must
play a leading role as 'facilitators' by offering cost effective cash management
solutions, secure payment gateways and other relevant banking services.
"The taxation policies for the e-businesses are not well-defined depending on
different business models and transaction type. The complexity has further
amplified with transactions happening across borders for online selling of goods
and services," Rawat said.
The e-commerce companies are building communities on social media networks
to better understand customer needs and drive effective marketing strategies, the
study observed.
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