India Ranks 83rd On UN Index Assessing e-commerce Readiness

"It's taking off in India and you have some companies like Flipkart that are getting through but at the aggregate level India is still a small player though the potential is very big in India," Fredriksson said.

Though globally credit cards still account for the biggest share of e-commerce settlements according to WorldPAy 2014, for India cash-on-delivery is used for more than half - 50 to 80 per cent - of all online transactions.

After the US, China and the UK, India has the fourth largest number of complaints made against companies selling online, however, the reported incidents in the US in 2013 was 48.7 per cent while in India was much smaller and stood at 2.3 per cent.

Globally, the top four countries with highest readiness for electronic commerce are Luxembourg, followed by Norway, Finland and Canada.

Though China is 63rd in the UNCTAD-formulated index, it is already the world's largest B2C market measured both by the revenue and the number of online buyers.

The Alibaba Group is the world's largest e-commerce company by gross merchandise value - volume of goods and services being transacted - followed by Amazon and eBay.
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