The Indian economy and business style is changing hugely due to e-commerce. It is ushering in an era of growth, prosperity and opportunities. Indian business growth has been triggered by the increasing use of the internet and smartphones.
As an Investor, I have been looking into the market’s ups and downs and yes, COVID-19 has badly hit Indian Businesses as well. Surely, there are a few aspects which cannot be ignored by the corporate world to invest in India.
India ranked second in the Global Retail Development Index (GRDI) in 2019. Retail Industry is one of the largest industry accounting 10% of the country’s GDP and 8 % of the total employment.
The Indian market has experienced a huge jump in the global market due to smartphones, the launch of the 4G network and increasing consumer wealth. Online retail sales in India are expected to grow by 31 per cent led by various retail industries like Amazon India, Paytm, myntra, etc.
In the Indian market, electronic contribute 48 % to the share, the biggest contributor to online retail sales in India, followed by apparel at 29 per cent. The market size will rose to US $1200 by 2021.
Fastest Growing Economy
We all Indian are good at working hard and achieving our dreams. Our country is recorded to be one of the fastest-growing economies in the world, tied with China, with a projected growth rate of 6.1 per cent for the 2019 fiscal year as per the International Monetary fund. EY Emerging Markets centres has ranked India as the most attractive market. The efficient services provided by India is one of the major factors.
Rising Economic Influence
It is projected by the end of 2030 Global Maritime trade to move from the Pacific to the Indian Ocean region. It is believed that China and India will be the largest manufacturing hub in 2030. As India is climbing the mountain of success and growth, it will have greater economic influence across the Asia-Pacific region as per the Baker Mckenzie & Mergermarket group.
Largest Youth Population
India has 600 million young minds. We are an army of change, innovation and setting this world to next step. India is the largest supplier of university graduates in the world today. India is the land of the intelligent mind and Youth power. It is estimated by All India Management Association & the Boston Consulting group that India has the third-largest group of scientists and technicians in the world.
India is a tough competition across the world. India rank 68th on the Global Competitiveness Index 2018-2019. The government of India has taken the initiative of social security program i.e. Adhar card under which 95% of the total population is benefited.
As per the World Bank, India jumps 79 positions from 142th to 63rd in ‘World Bank’ Ease of doing businesses ranking 2020.
Government of India has launched many programs like Digital India, Make in India, Start-up India, Skill India and Innovative Fund. The effective application of such programs has led to support in e-commerce business in India. After launching such programs many people got jobs and were aware of the different schemes. Government has taken many important measures to promote e-commerce in cities and villages.
Government has facilitated people with cashless, paperless transparent payment system. Government has taken endeavours to increase the support of the foreign player in the e-commerce field by hiking the limit of foreign direct investment in the e-commerce market.
COVID-19 Effects on Online Retail Business
Pandemic has hit the world and India is taking huge measures to control the coronavirus. It cannot be ignored that the impact of pandemic coronavirus on retail market will be severe in the country. It is true that when the market is down beyond a point, maybe some fund manager, stocks will not come back but the truth is the market will always come back. We have evidence from over the last 100 years in countries that how badly market get hits, it always bounces back. Indian market is strong and will bounce back with high energy. The game is that after some time equity will do well. It is recommended not to back off from the market because it will come back.
Thank you fellas, for reading!!