E-commerce and its Linkages with Services by Centre for WTO Studies
Volume IV, Issue I, 2021
Commerce in layman terms can be defined as exchange of goods and services for a consideration. E-commerce is often regarded as a modern form of performing various business activities where the seller sells his products online on a web-space. E-commerce provides a platform to the sellers to sell their products to mass number of people within a limited span of time. However, if we compare e-commerce with the traditional market the biggest advantage is ease of doing monetary transactions. Previously in traditional market the seller used to perform all the business transactions in cash. However, if we purchase any product from the e commerce website numerous ways are available with plenty of options to choose from. The second biggest advantage that the e commerce users have is the wide variety of products and amazon prime and flipkart exclusively provide deliveries within 24 hours for limited products. The delivery of products is not restricted within the territory of India but, the products can also be exported or imported through the medium of these websites at no extra cost. Further, these large websites like amazon and flipkart have their own logistics and storage facilities that enables them to store products in large quantity and since, they are storing these products in this manner they are able to reap the benefits of economies of scale. Further, their logistics support and also ensure that the product reaches safely to the end consumer on time. Government in India is supporting E commerce and many international organisations like the World Trade organisations is also in its favour. As, the trend of e commerce is drastically increasing it would not be wrong to say that e commerce will be the future of business industry.