Update On :13 May 2015
Over next six years Ecommerce market in India is expected to grow at CAGR of 80 percent because of its convenience, choice and low prices but this will happen only if Government allows foreign direct investment (FDI) in business-to-consumer segment stated a strategy consulting and communication company as per the report released by India Opportunity Advisors.
Manish Sharma the managing partner of India Opportunity Advisors said â€œThe sector has been witnessing a growth of almost 100 percent year-on-year. To enable the sector to spur manufacturing for Make in India, create seven lakh jobs and also attract investment of $25 billion; opening inventory-led B2C e-commerce to FDI is criticalâ€.
He added that the industry cannot reach its full potential through one model of B2B (business-to-business) marketplace. Both the models need to co-exist and grow in an enabling environment for the overall benefit of the economy. Report said with increased penetration of 3G and smartphones, the e-commerce market can grow to be even bigger than $60 billion by 2020.
â€œHowever, challenges remain in the form of lack of clear policy and regulatory framework, over-dependence of sales on cash on delivery and under-developed ecosystem. A stable regulatory and policy environment can make e-commerce one of large triggers for lower prices of products, development of Indian brands, Make in India and be one of largest foreign direct investment into country,â€ the report said. Per capita spending on e-commerce is expected to increase from $138 now to about $345 by the year 2020.
News Source From : http://www.economylead.com/