Many would have studied Science, Biology and Commerce at College but there is something new that is fast catching to become important chapter in field of study, E-Commerce. With the increasing penetration of internet in developing countries like India, China, many business models are evolving around this platform. Gone are the days when websites were only way of giving information to users about the company or product. Today focus is to make it a two way communication channel and users are encouraged to participate actively by reviewing, commenting, recommending and purchasing on the internet.
With India offering 3Ds of democracy, demography & demand, in terms of NaMo, India’s E-Commerce market is buzzing with activity with many desi e-commerce companies like Flipkart, Snapdeal, Myntra, Jabong, Yepme getting on along with catching fancy of International players like Alibaba, Amazon vying to have a pie of theirs. And among all these, Indian consumers, who loves to be pampered by the great offers coming their way, is loving it. He is the centre and King of this marketplace.
However this is giving hard times to brick and mortar retailers, our local kirana shops and even corporate retail, likes of Reliance Fresh, More, Big Bazaar, Star Bazaar, are feeling the heat of fast evolving ecommerce in India.
2014 has been the year of many new start-ups world has seen on ecommerce platform. Along with the e-commerce players, the backend support partners in field of technology providers, payment gateways like paytm, PayUmoney, Airtel, Oxigen and logistics service providers like Gati, Fedex, India Post Office, DHL, DTDC are seeing light of the day.
This field has given an opportunity to see many first generation entrepreneurs like, Sachin & Binny Bansal of Flipkart, Kunal Bahl of Snapdeal, and many more start-ups in this space are lined up in the field of taxi aggregators like Uber, Ola, Taxi for Sure, consumer retail like localbanya.com, bigbasket.com, real estate like Housing.com and will change the life of many.
With so much happening in this space, how can our government be behind and not ask it’s share out of this. The Centre has taken its first steps towards bringing in clarity on the levy of service tax on certain formats in the e-commerce space. Amending the service tax rules in the Budget 2015-16, the finance minister, Shri Arun Jaitely has clarified that any service provided under “aggregator model” will be taxable.
Analysts say the online shopping space in India is expanding at a massive scale and the journey is not yet over.
The availability of internet on smart mobile phones is taking small town customers online and this market will grow like anything.
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