India Has The Potential To Increase Its Economic Welfare By 67 Percent: Ebay India

By SiliconIndia   |   Thursday, 27 March 2014, 07:19 Hrs
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DELHI: eBay India, one of India’s prominent eCommerce marketplaces, released the COMMERCE 3.0 report to highlight the impact of internet-enabled trade in the country. The report provides insights on how Indian merchants trade nationally and internationally through online channels thereby contributing significantly to the Indian economy and contrasts it with the dynamics of traditional trade.

The report explains the critical role of new technologies in revolutionising the way Indians buy and sell. It also highlights eBay’s commitment towards contributing to the evolution of eCommerce in India, thereby improving the lives of millions through Internet-enabled trade. “eBay India is committed towards fostering the growth of Indian eCommerce by enabling merchants of all sizes to trade nationally and globally on a level playing field. The main aim of this report is to highlight the abundant opportunities offered by internet-enabled trade to millions of small & medium enterprises in the country. eCommerce allows small retailers to become “micromultinationals,” small businesses with global customers,” said Latif Nathani, Managing Director, eBay India.

Echoing the sentiment, Praveen Khandelwal, National Secretary General, Confederation of All India Traders (CAIT), remarked, “The CAIT is opposing entry of FDI in online shopping but at the same time is making all efforts to upgrade and modernize the trading community. This opened the door for thousands of small and medium-sized retailers across the country to expand their geographical presence to reach buyers in India and around the world.” He added that “Soon after the General Elections, the CAIT is all set to launch a nationwide campaign amongst trading community of the Country to adopt modern business skills including use of online market place platforms.”

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