E commerce is the sale or purchase of goods and services conducted over networks of Tv and computers. The use of internet and network is the key feature of e commerce. According to a report by KPMG, e-Commerce sector in India is projected to cross $80 billion by 2020 and $300 billion by 2030.
The various models for e commerce are:
- Market place model: The seller does not own the inventory. The seller only provides the platform for transaction and the goods are sourced from an inventory owned to number of enterprises.
- Inventory based mode Ownership of inventory rests with the seller only.
Benefits of e commerce:
- Rapidly growing sector.
- Spillover effect on associate industries such as logistics, online advertising , media and ITes
- Boost to regional and local entrepreneurships; A cost effective medium for the growth of MSME
- Consumer friendly as there is increase in the number of choices. They are more convenient for consumers also.
- Revenue generation for Government., providing employment opportunities.
- Balanced regional development, will help to provide safety to local artisan industries by giving exposure to a large market means globalisation of indigenous products.( eg madhubani paintings, bagru print, bandhej sarees etc.)
- E commerce attracts huge amount of investment in the form of FDI.
MPSC Notes brings Prelims and Mains programs for MPSC Prelims and MPSC Mains Exam preparation. Various Programs initiated by MPSC Notes are as follows:-
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- MPSC Detailed Complete Prelims Notes