E-Commerce: The Best Is Yet To Come

The Government’s focus towards digitization, financial inclusion, fintech, Aadhaar-based identification and GST-based simplified taxation are going to be some of the key drivers of growth.


Investment banking firm Morgan Stanley, in a recent report, predicts that India’s e-commerce market for gross merchandise value (GMV) will reach $200 billion by 2026, growing at a CAGR of 30%. This growth, if it happens, the firm says, will help grow the overall market penetration to 12% in the next nine years, as against 2% today. The phenomenal growth of internet users, the firm says, is primarily driving the e-commerce market. The other factors that are contributing to this growth are growth in digital payments, ease of making a purchase, CoDs and e-commerce mobile apps.

Market Trends

According to an Internet and Mobile Association of India (IAMAI) and Kantar IMRB study, the number of internet users in India is expected to reach 500 million by June 2018. The number of Internet users stood at 481 million in December 2017, an increase of 11.34% over December 2016, said the report titled, “Internet in India 2017”. The ongoing digital transformation in the country is expected to increase India’s total internet user base to 829 million by 2021 (59% of total population), from 481 million (39% of population) in 2017, while the total number of networked devices in the country is expected to grow to 2 billion by 2021, from 1.4 billion in 2016....Read More

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Fake GST invoice scam; 215 people arrested, ₹700 cr recovered

Image
Fake GST invoice scam; 215 people arrested, ₹700 cr recovered:  The   Directorate General of GST Intelligence (DGGI)   has recovered more than ₹700 crore from the arrested 215 people and in the last two months. The individuals who have been arrested for   GST fake invoice frauds   and are fly-by-night operators who fraudulently avail, pass on and utilize input tax credit (ITC) in multi-layered scams. The GST intelligence authorities have also registered over 2,200 cases and have unearthed more than 6,600 fake   GSTIN   entities. “Out of the 215 arrests so far there are 71 masterminds, 81 proprietors, 36 director/managing directors, 15 partners, 3 CEOs, 6 chartered accountants and one each of company secretary, broker, and GST practitioner,” the statement said.   The recent usage of data analytics, data-sharing and AI along with BAFTA tools has helped the agency to detect fraudsters with precise inputs. The DGGI in its statement also said that the arrested include several managing dir
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’t be exchanged like-for-like with an
Read more