E-Commerce Impact on Economy

E-Commerce Impact on Economy

Author Name : Mr. Guruprasad Pai B, Dr. Shrinivasa Mayya D

ABSTRACT India is known to be the fastest growing economy of the world and it is the major hub for e-commerce market. The massive growth of internet and evolution of smart phones, the shopping habit of an individual has drastically changed. With grocery and vegetables to medical consultation, e-commerce has changed the buying habits of customers which can be done in a click. Thus, with stable growth of Indian economy in last decades, standard of living of Indians went up considerably. With adoption of latest technology, increased use of digital platforms, exposure to global markets, safer online payments and cash-on-delivery options contributed to the rapid growth of Indian e-commerce industry. Thus it is important that the government intervenes and supports the e-commerce industry by attracting investments in the form of Foreign Direct Investment (FDI) without harming the national firms to stabilize and increase the growth of e-commerce industry. Hence, this review paper helps to study the impact of e-commerce on Indian market, contribution of e-commerce to Indian economy, Impact on employment and to know the overall impact on Indian economy.