E COMMERCE : It’s impact on Indian economy

Abstract

This paper reveals the economic as well as social impacts of e commerce in India. It is the India’s fastest growing market with annual compound growth rate (CAGR) 52% to touch USD 36.7 BILLION by 2020. The increasing penetration of Smartphone’s and internet are significantly contributing to the growth of e-commerce. Convenient payment process, speedy delivery of product, high discount, customer friendly policies and easy Returns are the driving more customers towards online shopping.Due to digital revolution ,The E-Commerce in India increase from $ 3.8 billion in 2009 to $ 1.7 billion in 2014. It is expected to cross $100 billion within the next 5 years which will contribute more than 4% to India’s GDP. The retail sector which one of the largest item in e commerce is also showing a promising trend of 11% CAGR and is expected to reach $1 trillion by 2020.