A Study on E – Commerce Industry’s Glory and Challenges Present in Near Future with Specific Reference to Indian E- Commerce Sector

Abstract

Since 1991, after economic reforms explicitly took place in India as a result of opening-up of the economy with a view to integrate itself with the global economy, the need to facilitate international trade both through policy and procedure reforms has become the foundation stone of India’s trade and fiscal policies. Electronic commerce (e-commerce) as part of the information technology revolution became widely used in the world trade in general and Indian economy in particular. With advancements in technology, there have been changes in the methodology for business transactions. India, being a rapid adaptor of technology is apace with the
current scenario of electronic data exchanges and has taken to e-commerce. In view of this, this article tries to present a snapshot of the evolution of e-commerce business indicating the chronological order, category of e-commerce business, description of organizations involved in e-businesses in India, key characteristics of the firms engaged in e-commerce application, to examine the growth of e-commerce, to evaluate the benefits obtained from e-business, to critically analyze the barriers and future challenges present in this sector constraints involved in flourishing ecommerce businesses in India.