Akash Bhardwaj, Dr. Subhash Kumar Verma
Electronic Commerce, often known as e-commerce, refers to the practice of conducting commercial transactions through the use of various forms of telecommunication, most prominently the internet. Not only is it a tool to assist already established corporate operations, but it has also brought about a paradigm shift in the way that trading is done around the world. An e-commerce ecosphere has emerged as a result of the increasing permeation of technology and the growing acceptability of the concept of online purchasing. The proliferation of internet connections, telecommunications services (3G and 4G), internet access (broadband), portable electronic devices (laptops, cellphones, and tablets), and internet access overall have all played a part in the increase of the popularity of online shopping. The progression of electronic commerce is without a doubt going to be documented in the present environment that the advent of digitization has brought about. The primary objective of this research is to highlight the growth of e-commerce in India, investigate the current trends of e-commerce, and investigate the future of e-commerce in India in terms of the challenges and possibilities that are on the horizon for the business there. To provide a more precise explanation, the primary objective of this study is to shed light on the rising market for online shopping in India. In order to accomplish the goals of this study, secondary sources of information such as previously published research papers, articles, journals, and reports, amongst other things, have been consulted. The extent to which people in all parts of India have access to the internet is one of the factors that has had the single largest impact on the economic growth of the country. In India, there were roughly 354 million people using the internet as of June of 2015, and it is projected that this figure would surpass the threshold of 500 million in 2016If this occurs, India would have the internet user base that is the second largest in the world, behind only China. China will continue to have the greatest user base in the world. According to the findings of a study that was carried out in 2016 by ASSOCHAM and Forester in collaboration, it is anticipated that India's e-commerce revenue will increase at an annual rate of 51%, going from USD 30 billion in 2016 to USD 120 billion in 2020. This is based on the findings of a study that was carried out in 2016 by ASSOCHAM and Forester in collaboration. This prognosis is predicated on the assumption that India's population will reach 1.2 billion by the year 2020, which is the current projection for the country's population growth. This growth rate is projected to be higher than that of any other nation in the world. As a consequence of this, the future of electronic commerce is extremely promising as a result of the fact that many new players are entering the market in a variety of different sectors, and the government is taking a variety of steps to assist merchants in broadening their horizons while also protecting fundamental rights such as privacy, the prevention of fraud, intellectual property, and so on. As a consequence of this, the future of electronic commerce is extremely promising. As a direct consequence of this, there is a great deal of optimism over the future of electronic commerce.
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