Importance Of E-Commerce

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E-commerce is the buying and selling of goods and services or the transmitting of funds or data over an electronic network, like the internet. Many economists expect e-commerce in India to grow exponentially over the years. The e-commerce firms have also experienced a great deal of attention from investors. Investments in logistics, companies helping merchants borrow, and companies giving consumers new means to pay for goods are among the things the e-commerce market is introducing to India. With e-commerce, India, and the buying and selling done there, will be transformed. Today, China is the biggest e-commerce market in the world. Although India has a poor population and infrastructure, its prospects look good. India has a big population, their smart phone use is increasing, and there…show more content…
These factors put India in a position to be able to reach close to the size of China’s e-commerce market in years to come. Firms in the e-commerce market must find ways to differentiate themselves. This means that firms need to enhance their services for sellers and buyers, and they need to offer an improved and broader range of products to more buyers. To make this happen, the firms have to increase the number of sellers on the company’s platform. Increasing the number of sellers will better allow companies to offer a wider range of services which will attract more businesses to them. E-commerce companies make it easier for entrepreneurs and small businesses to get the capital needed to grow. They offer help with easing access to credit, making better loan offers to businesses, and helping lenders judge credit risk. After increasing the number of sellers, e-commerce firms have to find a way to help consumers buy their wares. Most of the people in India pay with cash, however, the e-commerce market wants to change that. Paytm, a mobile-wallet company and online marketplace, allows customers to add money onto a digital wallet to make shopping online possible. Paytm has 120

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