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

Elaborating on the Commerce 3.0 report, eBay aims to highlight the abundant opportunities offered by internet-enabled trade in India.

The report said that eBay sellers tend to export and do so to an average of 31 international markets. Over 98 percent of eBay sellers export in contrast with only 10 percent of traditional firms. Internet-enabled trade overcome distances and makes the world “flatter” with fewer barriers to business. Distance matters around 65 percent less on eBay than for traditional trade. Today, United States, United Kingdom and Australia are India’s main trading partners on eBay while Australia & Russia are experiencing the largest export growth from India.

Internet-enabled trade helps to provide a level-playing field for small entrepreneurs. National and export sales are less dominated by the largest firms, and new firms have high shares in overall sales. This is because entry barriers for Internet-enabled trade are lower, which makes it easier for newcomers to enter the market. Thus, commerce platforms such as eBay have a pro-competitive effect. 32 percent of exporters on eBay India are newcomers, it added.

Read More:
How Color of the Logos Define Big Brands

India Ranks Third for Counterfeit Goods Seized In US: Report