Indians are buying online. And eCommerce sites are proliferating to meet this demand. Venture capital money is flowing in. Consumers are being papered with specials, offers and discounts. It is finally boom time for the second leg of the Internet in India (the first leg being advertising).
Fortune India and Business World both have cover stories on the Indian eCommerce companies. There are many other companies racing to build the ancilliary industries that are needed to facilitate cash collection and delivery. Many business models are emerging – from sticking everything to marketplaces. Even the traditional offline retailers are now accelerating plans to increase their online presence.
A similar explosion had happened in 2000. But that was very short-lived since the consumers were just not there. This time around, it is all in place – the consumers, the digital infra, the entrepreneurs, interesting models, and plenty of venture capital. So, what is happening and how will this space evolve in the coming months and years?