A recent report generated by CII and Deloitte revealed that e-commerce in India will touch $101.9 billion by 2020. In fact as per the report ecommerce has the potential to change the picture of the Indian economy completely and that it accounts for the great tipping point the country is experiencing.
On the release of the report, Viresh Oberoi, Co-Chairman, CII National Committee on ecommerce, said:
“With the launch of Digital India and Make in India, the government has been active in bringing out solutions that will help SMEs. Digital India will provide improved internet accessibility while Make in India will help in indigenizing product manufacturing. The technology centric framework by the government will provide cloud based platforms for SMEs. All this is assisting the growth of small businesses in the ecommerce era.”
Although the tax laws in the country leads to a few complications but even that can be reformed by the introduction of GST (Goods & Services Tax) that will bring in much awaited relief for the e-Commerce sector .
On this, Neeraj Jain, Partner, Deloitte Touche Tohmatsu India LLP said,
“From an investment perspective, considerable funding in the ecommerce ecosystem has led to emergence of new business models across B2B, B2C, Logistics, Service Providers, Payment Wallets, Digital Advertising and Analytics. These investments have enabled the ecommerce companies to leverage leading technology and related practices to reach out to millions of new online customers by delivering services more effectively and efficiently.”
Nilesh Gopali, cloudBuy, Country Head, India added:
“Across the globe the e-commerce industry is a force which continues to grow, which investors cannot afford to ignore. This is especially true in India where there are so many opportunities like Make in India and Invest India,”