Recent Internet and Mobile Association of India (IAMAI) figures clearly show that e-commerce has come of age in the country. IAMAI estimates the size of the Indian ecommerce market will touch Rs 2,300 crore (around 10 per cent of the organised Indian retail market) by 2006-2007 a 95 per cent rise over last years figures of Rs 1,180 crore and an over-300 per cent rise over the figures of 2004-05.
There are many issues to contend with broadband connections, security and legal infrastructure, delivery of goods, credit and debit card payments, taxation laws and finally, mindsets.
Ajit Balakrishnan, chairman and CEO of Rediff.com, says, There are several factors that will influence the growth trajectory of e-commerce. Such as, the growth of the overall Internet user base, quality of Internet access through the use of the Net arising from offices and homes versus colleges and cybercafes, quality of access enabled by broadband penetration and the extent of credit card (stands at 5 million) and debit card use on the Internet.