Indian Online Retail Market to touch $17.50 billion

As the Indian economy is growing at a very fast rate, two sectors that are seeing tremendous uptrend are the banking sector and e-commerce. We see a huge surge in demand for finance from small-scale and large-scale enterprises alike. Banks, credit card companies and other financial institutions are extending loans and advances to individuals and small businesses. There is a huge collection and recovery process that is generally outsourced by most of the banks. 

Most of the banks have automated Core Banking functions. Their collection process grossly remains manual, maybe because it is outsourced to collection agencies and they have not been deploying technology because of the rising project expenditure. 

At the same time, the B2C e-commerce market in India has exhibited rapid growth and is expected to reach $60 billion by 2017. The online channel is expected to grow at a much faster rate vis-a-vis more established channels and is expected to account for 10.1 per cent of overall retail sales in 2018....Read More

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