E-commerce sector has been at the forefront in terms of bringing changes in the way the goods and services industry functions. With Internet penetration deepening in rural parts of the country, the sector is eyeing untapped opportunities. In result, millions of jobs will be added to the employment sector in coming times in the country. This industry has seen an astounding growth in the past decade and continues to grow at an annual rate incomparable to the rest of the world.
Improvement of Internet connectivity, mobile phone reach, and the rise in the living standard are accelerating the tremendous growth.
The E-commerce industry has been directly impacting the micro, small and medium enterprises (MSME) in India by providing means of financing, technology and training. It has a favorable cascading effect on other industries as well. Technology-enabled innovations like digital payments, hyper-local logistics, analytics driven customer engagement and digital advertisements will likely support the growth in the sector. The growth in e-commerce sector will also boost employment, increase revenues from export, increase government’s tax collection, and provide better products and services to customers in the long-term.