The internet plays a great role in influencing the economy of the country. The ecommerce field shows a rapid growth of $12.6 Billion in 2013 with an average of 30% growth. The wide range of products provided by the ecommerce sites with best offers for the consumers attracts more number of people. Also, the flexibility in making the payments keep the customer more glued with the concept of ecommerce.
In a country like India, there is good scope for implementing the ecommerce where the population is increasing each day. More number of people have started using the internet via both web and mobile. Hence merchants can promote their products via ecommerce solutions, and build their business quickly by reaching more number of people.
Study reveals that there are about 200 million internet users in India, and it is expected that it will increase to 500 million internet users by 2015. This statistics is most favorable for the online retail business. Infact, the highest percentage (70%) of users are favoring the travel industry to book their travel tickets and stay places. There are lots of other ecommerce solutions that play major role in increasing the economy.
There is great contribution by Foreign Direct Investment (FDI) in improving the economy of the country. But in the field of ecommerce in India, only B2B options follow the FDI while there is no facility for B2C ecommerce. The government is allowing 51% FDI in multi-brand retail which is an advantage sought by ecommerce major players like Amazon, Flipcart and eBay. Still there are only minimum of 12 states involved in investment.
Penetration of internet via smartphones also help for improving the commerce activities. It is estimated that there is 56% revenue growth in the ecommerce company. Major portion of the population have access to mobile internet which makes it possible for them to compare prices and make the purchase online with no concern about spending. If foreign investments are encouraged in ecommerce sector, then there can be good growth in infrastructure facilities.