The Status of E-Commerce in India and its Potential

chillibreeze writer — Shaila Andar

INTRODUCTION:

E-commerce stands for electronic commerce and pertains to trading in goods and services through the electronic medium, i.e. the Internet or phone. On the Internet, it pertains to a website, which sells products or services directly from the site using a shopping cart or shopping basket system and allows credit card payments.

E-COMMERCE IN INDIA TODAY

Today E-commerce is a byword in Indian society and it has become an integral part of our daily life. There are websites providing any number of goods and services. Then there are those, which provide a specific product along with its allied services.

A) MULTI-PRODUCT E-COMMERCE:

Some Internet portals provide almost all categories of goods and services in a single site; hence, they are targeting buyers of every possible product/service. The most popular examples are www.indiaplaza.com, www.thebestofindia.com, www.khoj.com, www.sify.com, www.rediff.com, www.indiatimes.com and so on.

These Indian E-commerce portals provide goods and services in a variety of categories. To name a few:

Apparel and accessories for men and women
Health and beauty products
Books and magazines
Computers and peripherals
Vehicles
Collectibles
Software
Consumer electronics
Household appliances
Jewelry
Audio/video entertainment goods
Gift articles
Real estate and services
Business opportunities
Employment
Travel tickets
Matrimony
Pets…and more.

B) SINGLE-PRODUCT E-COMMERCE:

Some Indian portals/websites deal in a specialized field, for example:

1) AUTOMOBILES:

Examples are: http://www.indiacar.com/ and http://www.automartindia.com/.

On these sites we can buy and sell four-wheelers and two-wheelers, new as well as used vehicles, online. Some of the services they provide are:

Car research and reviews
Online evaluation
Technical specifications
Vehicle Insurance
Vehicle Finance
Dealer Locator
Regional Transport Office regulations
Expertspeak
Message board…and more.

2) STOCKS AND SHARES AND E-COMMERCE:

In India today, we can even deal in stocks and shares through e-commerce.Some of the sites are: http://www.equitymaster.com/ and www.5paisa.com/.

Some of the services offered to registered members are:

Online buying/delling of stocks and shares;
Market analysis and research
Company information
Comparison of companies
Research on Equity and Mutual Funds
Tracking Market Trends
Hotline for advice on Risk Management
24-Hour helpdesk….and more.

3) REAL ESTATE AND E-COMMERCE:

Portals like http://www.indiaproperties.com/ facilitate online dealing in real estate. They offer either outright purchase or lease of a property through their portal. They provide information on new properties as well as properties for resale. One can deal directly with developers/builders or through consultant/brokers.

Allied services:

Housing Finance
Insurance companies
Architects & Interior Designers
NRI services
Property Management Consultants
Packers & Movers
Security & Maintenance Services
Vaastu or Feng Shui Consultants…and more.

4) TRAVEL & TOURISM AND E-COMMERCE:

India has a rich history and heritage and e-commerce is instrumental, to a large extent, in selling India as a product, encouraging Indians as well as foreigners to see its multifaceted culture and beauty. A major Government of India portal, http://www.tourisminindia.com/, has a vast variety of information for a potential tourist.

The tourist destination sites are categorized according to themes like:

Adventure - trekking, mountain climbing etc
Eco-Themes pertains to jungles, flora and fauna
Beaches of India
Architectural attractions
Forts and Palaces
Buddhist attractions
Hill resorts
Desert treks
Pilgrimage sites

Allied services offered are:

Passport & visa
Travel & accommodation information
Weather information
Festival & fair dates
Shopping
Tour Operators
Information on Cuisine & Restaurants
Car rental services…and more.

There are also sites that highlight the tourist destinations of a specific region in India, like http://www.incredibleindia.org/, which covers North East India.

5) GIFTS AND E-COMMERCE:

In the bygone days, one had to plan what to gift a loved one, trudge across to your favorite shop, and browse for hours before purchasing a gift. Today there are specific Indian websites making the act of gifting quick and easy to suit ones lifestyle. One such site is http://www.indiangiftsportal.com/.

The gifts are categorized as:

Collectibles like paintings and sculptures
Luxury items like leather goods, perfumes, jewelry boxes, etc
Household curios and carpets, etc
Toys & games
Chocolates
Flowers
Wood-craft & metal-craft
Idols for worship…and more.

Also the items can be searched by different regions of India, as every region has a special style in making handicrafts.

6) HOBBIES AND E-COMMERCE:

The most popular hobbies from time immemorial are reading, music and films. On the Indian website http://www.firstandsecond.com/ one can buy more than 300,000 titles of books, cassettes, VCDs and DVDs.

The books cover a wide range of topics like Business, Art, Cookery, Engineering, Children’s Stories, Health, Medicine, Biographies, Horror, Home & Garden, etc.

As for music and videos, they are available in English as well as in Indian languages to cater to the varied tastes and the topics range from devotional songs, old-time favorites and retro and jazz to the latest pop, rap, etc.

7) MATRIMONY AND E-COMMERCE:

It is said that marriages are made in heaven, but in the world of E-commerce they are made on marriage portals like http://www.jeevansathi.com/ (meaning life-partner.com in Hindi) and http://www.shaadi.com/ (meaning marriage.com in Hindi).

One can search for a suitable match on their websites by region of residence (India or abroad), religion or caste. Once registered with them, they have email facility and chat rooms too, so that the couple gets to know more about each other before making the biggest decision of their lives.

Allied services for registered members:

Astrological services
Information on Customs and Rituals
Legal issues
Health & Beauty
Fashion & Style
Wedding Planners
Honeymoon Destinations…and more.

8) EMPLOYMENT AND E-COMMERCE:

Two major portals like www.Monsterindia.com and www.naukri.com (meaning job.com in Hindi) are instrumental in providing job seekers with suitable employment at the click of a mouse. They have directories categorized under the headings Employers and Job Seekers. The service for job seekers is free and for Employers they charge a nominal fee. Jobs are available online in fields ranging from secretarial to software development, and from real estate to education. The opportunities offered are unlimited.

FACILITATORS OF E-COMMERCE IN INDIA:

1. INFORMATION DIRECTORIES:

Portals like http://www.trade-india.com/ and http://trade.indiamart.com/ maintain directories giving trade details on almost any topic, whether it is from apparel to toys, from gems to heavy machinery, or from food to employment. The products and services are listed with appropriate sub-headings to make it easy for a serious information-seeker to find what he wants. Some other similar sites are http://www.indiagrid.com/, http://indiainfo.com/, and http://in.indiatimes.com/.

Allied services provided by them: Message boards, chat rooms, forums, etc.

2. BANKS:

a. Netbanking/phone banking:

This is an online banking facility available for savings account holders as well as current account holders. Some of the special Netbanking services are:

Demat accounts for sale/purchase of stocks and shares
Foreign Exchange services
Direct/Instant payment of bills on the account-holder’s behalf
Financial Planning & advice
Electronics Funds Transfer
Loans to account-holders
NRI services…and more.

b. Credit/Debit Cards:

Banks facilitate E-commerce by providing the most vital trade instrument, namely the Credit or Debit Card, without which E-commerce would be impossible. Some of the major Indian players in this field are: http://www.hdfcbank.com/, http://www.icicibank.com/ and http://www.statebankofindia.com/.

POTENTIAL OF E-COMMERCE IN INDIA:

Microsoft Research India was inaugurated in January 2005 in Bangalore, as the sixth MSR laboratory in the world. The arrival of a giant like Microsoft itself speaks of India’s potential as a world-player in the field of Information Technology and e-commerce; and others will soon follow. Indian researchers and technicians can further the fast emerging world of E-commerce in India and take it to greater heights.

Chillibreeze's disclaimer: The views and opinions expressed in this article are those of the author(s) and do not reflect the views of Chillibreeze as a company. Chillibreeze has a strict anti-plagiarism policy. Please contact us to report any copyright issues related to this article.

Out of 5 “chilies”, our editorial team gave this article...

—About our writer:

Shaila says, "Reading has been my passion since I was little - whether it is comics, dailies, magazines, bestsellers or non-fiction. My favorite TV channels are Discovery, National Geographic and Travel & Living. Reading/TV has taught me something new every day and made life seem a wonderful adventure. It has taught me to work hard and play hard. Children and pets have made life fun and kept me young-at-heart. Hope you readers find life an adventure too. Happy reading!."