E-commerce Transactions In India - Reaching $100 Billion In 2008?
As companies increase use of Internet to cut costs and improve speed and efficiency, e-commerce transactions, which are currently growing at the rate of 30-40 per cent in India, are expected to reach $100 billion.
“With the advent of Internet, far-flung global markets have shrunk into one small market. The B2B portals have succeeded in breaking the geographical and other conventional barriers involved in trading,” according to Bikky Khosla, CEO of business-to-business (B2B) portal Tradeindia. “They have also succeeded in cutting down on the time and cost involved in the export-import business.”
“Today, B2B portals are an absolute necessity for all enterprises of any type and size. The advantages of having the assistance of a quality B2B portal are massive. Registering one’s company with a B2B portal can have immediate impact on the company’s productivity,” Khosla added.
Considering that IAMAI estimates the consumer e-commerce market to get in about $2.25 billion (Rs. 9000 crores) in 2007-08 and taking the growth rate of 30% for the next year, can B2B really make up the rest - or are these just numbers pulled out of a hat?
[Via]
Filed under: Business, India, News, Statistics
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