Electronic commerce fondly known as E-commerce is the process of buying or selling items through online platforms or over various Internet services.
On the other hand, the IT ( Information Technology) industry is a business sector which deals with numerous software, hardware and computing operations through communication setup.
According to business strategist Hirav Shah, merging both the industry will have a wide range of benefits for the investors in our country.
Scope of E-commerce business in India
As per the business statistics, E-commerce business has been witnessing an approximate revenue of over 39 billion dollars every year in our country.
Market analysts predict that the E-commerce industry will take a big leap in the coming years and generate an estimated revenue of close to 200 billion dollars by 2026 in India.
Banking on the Digital India programme takes up the Indian government, the number of internet connections increased to 760 million as of 2020.
How big is the E-commerce market in India?
Considering the advantages like the launch of 4G network and growing per capita income of the citizen, using the E-commerce industry the online retail sales in India is expected to grow almost thirty percent compared to the present trends and generate huge revenues in the future.
Popular E-commerce platforms like Flipkart, Amazon India and Paytm Mall are already witnessing the rise in Smartphone bookings with the positive shipments by the vendors in the market.
Advantaged developments in the field
For instance, Amazon India has already announced a collaboration with Hindustan Petroleum Corporation Limited in the second half of 2020. Under this deal, customers can book their LPG Cylinders and pay the amount through Amazon gateway.
On the other hand, Flipkart acquired a 140 acre land at Manesar near Gurgaon to establish the latest fulfilling station in Asia in order to bid their scale and infrastructure considering post-Covid demand for online activities.
Apart from the leading E-commerce portals, many small, medium and startup platforms are trying to capture the industry by utilizing the sources in India.
How big is the IT industry in India?
For the past twenty years, the Information Technology industry has been providing a wide range of services in India as the main division.
Two major components for the industry are IT Services and Business Process Outsourcing (BPO). As per research, the sector has been generating close to 200 billion dollars every year and is expected to reach the next level by 2025 with an estimated revenue of almost double to the present statistics.
Advantage of IT industry
The IT industry is providing approximately 4 million jobs and is a source of employment to 10 million people in India.
By each passing year, the communication sector has been improving its services and emerging as a superpower in the Indian market.
Possibility of a merger deal between E-Commerce and IT industry?
If a merger deal is proposed between both leading services such as E-Commerce and IT industry, the reach and benefits will be unimaginable, says Hirav Shah
If the entire tracking system of online buying and selling of the products is interlinked with the communication system of the IT industry, the result will be a new user-friendly service portal and is estimated to witness revenue much more than the respective sectors are generating individually.
As the E-commerce sector has been gaining momentum among small-medium range firms, Astro strategist Hirav believes that merging the E-commerce sector with the IT industry will emerge as a mutual beneficial digital giant in the Indian market.
But before investing big bucks in the merger deals, consulting a Business Astrologer, who has a good idea about both E-commerce and IT industries will be helpful to shine in the field and earn profits in no time, concludes business Strategist Hirav Shah.