E-commerce & it’s implications in business development

E-Commerce is currently one of the most important aspects of the Internet to emerge. Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the past five years. In the near future the boundaries between "conventional" and "electronic" commerce will become increasingly blurred as more and more businesses move sections of their operations onto the Internet. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction's life cycle although it may also use other technologies such as e-mail. There are three areas of e-commerce in that online retailing, electric markets, and online auctions. E-commerce is supported by electronic business. E-commerce is conducted using a variety of applications. The Indian economy grew by 7% in October-December 2016 and is expected to grow at 7.1% in 2016-17. The E-commerce industry which was worth Rs. 1257 billion in 2015 is estimated to be contributing about 1% of GDP. More companies now try to entice consumers directly online, using tools such as digital coupons, social media marketing and targeted advertisements. E-commerce markets are growing at noticeable rates. The online market is expected to grow by 56% in 2015–2020. Traditional markets are only expected 2% growth during the same time. E-commerce allows customers to overcome geographical barriers and allows them to purchase products anytime and from anywhere. The implication of e-commerce includes various issues such as economic, legislative, technological and social. E-commerce has outstanding growth prospective and it contributes directly to economic development of the country. Actually, e-commerce has created a phenomenon in almost all economic activities