E-Commerce: Boost to Indian Economy

E-Commerce: Boost to Indian Economy

Author Name : Mrs. Vrinda Mathur

ABSTRACT With the penetration of internet connectivity and digitalization, e-commerce has become a significant part of our daily life. Accessibility to E-Commerce has become a necessity for many people, specially living in urban areas. E-commerce is enhancing the consumer buying experience day by day and thus becoming one of the fastest growing sectors. According to the data published by statista, the market value of the e-commerce industry is estimated to reach US $ 200 billion by 2027 from US $ 50 billion in 2018. E- Retail market registered a strong growth with a CAGR of over 35% in FY20 as per data published by IBEF. The continuous expansion and growth in e-commerce will positively impact the entire economy in many aspects. The most encouraging aspect is its impact on creation of employment opportunities. The employment opportunities are not only confined to the e -retail but also the complete support chain has been benefited, like logistics, warehousing, IT and other support services. Besides this, it has also developed new opportunities for small sellers, artisans, craftsmen and women. The purpose of this research paper is to study how e-commerce has contributed to employment generation in various sectors of the economy.