Published Paper Details:

The present era is noteworthy for the progress brought by new age technology in various fields, from manufacturing to pharmaceuticals. And the retail sector is no exception, as the rapid growth of e-commerce is a prime example. The advancement of the e-commerce industry has made life easier for countless individuals. E-commerce is the online exchange of goods and services. In this paper we present factors that are fuelling the development of India's e-commerce market. My research methodology is based on secondary sources, such as posts, journals, studies, blogs, papers and conference proceedings. E-commerce is indeed one of the fastest growing sectors, with India having great investment opportunities in the industry. Since last year, there has been an enormous investment spike and more is anticipated in the coming years. In urban and rural cities, the rapid growth in the usage of smartphone and internet users has facilitated e-commerce companies. The e-commerce market of India has been on a path of upward growth. It is projected that India's online retail market is 25% of the overall retail industry and is expected to cross 37% by 2030. It is expected to overtake the United States by 2034 to become the second largest global e-commerce market. Some main drivers of this sector are a young population, growing internet and mobile penetration, and relatively better economic results. India adds over 10 million daily active internet users per month, with the number of smartphones per 100 people increasing from 5.4 in 2014 to 26.2 in 2018. It was estimated that one in every three Indians shopped using a smartphone based on 2019 results. The e-commerce market has also seen a spike in advancement across channels and additional segments, such as logistics, in order to tap into the big market. The market has become favourable grounds for exploring, among many others, different business models such as inventory, social networks, aggregator, and e-commerce marketplace model.