PAPER ID: IJIM/Vol. 9 (XI) /March/1-6/1

AUTHOR: Varkha Khanchi

TITLE : E-COMMERCE AND IT’S IMPACT ON INDIAN ECONOMY

ABSTRACT: E-commerce is quite popular in day today world. It is an effective tool for International Trade. It eliminates the geographical barriers, allowing business to access international market with ease. Small and medium enterprises (SMES) get new opportunities to expand their business with the help of e-commerce, otherwise it faces scarce resources and limited distribution networks. Earlier international trade involves complicated supply chains, huge paperwork and lengthy processes. Now e-commerce manages all the transactions and custom procedure online which helps to boost up the international trade. Indian international trade is expanding day by day with the help of e-commerce. It reduces the time and costs associated with cross border trade. E-commerce has a huge potential to transform International foreign trade. E-commerce industry of India has also experienced an exponential growth over the last decade and is poised for rapid progress in the year ahead with increasing internet penetration and availability of affordable smart phones. The Indian e-commerce industry has been on an upward path and is requisite to surpass the U.S.A. and become the 2nd largest e-commerce market by 2034. Indian government has also taken many initiatives to expand E-commerce industry especially for small and medium enterprises. For this in 2023 Foreign Trade Policy (FTP) , govt. plans to create India an E-commerce Export Hubs (ECEHs). Government provides e-commerce platform to small venders, MSMEs and local artisan so that they can easily access international markets for their products and earn more profit. This policy highlights the inclusive approach and emphasis on “local goes global”. In this paper benefits, objectives, types, history, impact on Indian economy, government initiatives, impact on Indian MSMEs, advantages and disadvantages of E-commerce will be discussed.

KEYWORDS: E-Commerce, Indian Economy, E-Commerce Exports, FTP2023

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