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This Report is provided by Forrester Research as the “Research Partner” for ASSOCHAM’s 2nd National Conference on e-Commerce 2012 and distributed to the Delegates of this Conference. COPYRIGHT Entire contents © 1997-2012, Forrester Research, Inc. All rights reserved. Forrester, Forrester Wave, Role View, Techno graphics, Tech Rankings, and Total Economic Impact are trademarks of Forrester Research, Inc. All other trademarks are the property of their respective companies. Forrester clients may make one attributed copy or slide of each figure contained herein. Additional reproduction is strictly prohibited. For additional reproduction rights and usage information, go to www.forrester.com. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.
613. Forrester Research. Retailers have a sizeable opportunity as the online population starts to spend more and buy more frequently online.. 60 Acorn Park drive.6000 | Fax: +1 617.are particularly essential in India.com . Two key areas that companies must focus on in all markets -localized payment and fulfillment options -. Online shoppers expect to see good deals online accompanied by free or very low-cost shipping. Localization is Crucial To be successful online in India. August 13. Inc.613.5000 | www. 2012 Key TaKeaWays eCommerce in india is Growing Quickly The eCommerce market in India is smaller than in other markets that Forrester forecasts in Asia. retailers in India are doing whatever is necessary to drive consumers to shop online.forrester. Cambridge. Today’s online shopper in india has inﬂated expectations Similar to retailers in most emerging eCommerce markets. MA 02140 UsA Tel: +1 617. eBusiness professionals must understand local eCommerce trends. but it is growing the fastest.FOR: eBusiness and Channel strategy Professionals Trends In India’s eCommerce Market by Zia daniell Wigder and Manish Bahl.
Forrester Research. Inc. Opinions reflect judgment at the time and are subject to change. Flipkart. RoleView. TechRadar. Over the past 12 months. Related Research Documents Asia Pacific Online Retail Forecast. Snapdeal. Sonata Software. BindaasBargain. Unauthorized reproduction is strictly prohibited. Myntra.forrester. To purchase reprints of this document. Inc. venture capitalists have invested heavily in India’s eCommerce market. Technographics®.com. 2012 Trends In India’s eCommerce Market How Online Retail In India Is Evolving Differently From Other Major Markets by Zia Daniell Wigder and Manish Bahl with Kelland Willis and Lily Varon Why Read This Report India’s eCommerce market is at an early stage but is expected to see huge growth over the next four to five years. 2012 Establishing A Global Direct Online Sales Footprint January 26. For additional information. we outline some of these local nuances and explain the key trends shaping eCommerce in India. please email clientsupport@forrester. Information is based on best available resources. presenting a huge opportunity for companies willing to work through some of the logistics and payments challenges in India. Helion Venture Partners. 2011 To 2016 April 16. Table Of Contents 2 India’s eCommerce Market Is Small But Will Grow Strongly The eCommerce Market In India Is Poised For Rapid Growth Online Consumers In India Have Specific Demands 5 Payment Options And Fulfillment Are The Key To Localization eBusinesses Must Offer A Variety Of Payment Types Logistics Are One Of The Largest Hurdles For eBusinesses In India recommendations Notes & Resources Forrester interviewed AaramShop.com. All rights reserved.com. new players have emerged. IndoUS Venture Partners. eBay.com. In this report.For eBusiness and Channel Strategy Professionals August 23. and the eCommerce ecosystem has developed. 2012 8 A Flexible Strategy Is The Key To Success In India’s eCommerce Market 9 Supplemental Material © 2012. . eBusiness professionals with an interest in the online retail market in India must understand how India differs from other leading eCommerce markets and where hurdles do and don’t exist. go to www. and Total Economic Impact are trademarks of Forrester Research.com. Forrester Wave. Forrester®. and Symantec for this report. All other trademarks are the property of their respective companies.
com. where women can purchase anonymously.1 million by 2015. has started to move online and is doing well with the middle. 2012 .8 billion in 2016 (see Figure 1). consumer electronics. for example. As the world’s 11th-largest economy (and fourth-largest emerging economy after BRIC peers China. but sign-up rates are increasing by 25% per month.and mid-stage venture funds noted that India’s online population — which is largely upper and middle class — has moved well beyond the initial stage of online shopping. Reproduction Prohibited August 13. some 59% of online consumers in metropolitan India already make purchases online at least monthly.9 The site currently has only 22. Brazil.6 While US$8.1 While Internet penetration is low at just 10% of the overall population. Forrester Research. India is starting to appear on eBusiness organizations’ lists of key international markets.2 And with the 2001 census showing an estimated English-speaking population of 125 million. Revenues are small today but poised to grow: MyGrahak.6 billion in 2012 to US$8. jumping from US$1. is expected to grow quickly online. the government is building infrastructure to improve and enable connectivity in metropolitan and rural areas. they are more likely to shop online for goods that are unavailable at local stores. In 2012.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 2 India’s eCommerce market is small but will grow Strongly An increasing number of global companies are eyeing the rapidly growing eCommerce market in India as improvements in infrastructure are made and India’s economy grows.000 registered users.and upper-class online shopper in metropolitan India. venture capitalists invested US$177 million in eCommerce in India — more than recent estimates of eCommerce investment in Russia in 2011. expects to have a turnover of US$179. the firm is focusing its efforts on raising more capital to double warehouse capacity and improve logistics.5 Consumers in nonmetropolitan areas will also help fuel growth.and middle-class consumer.8 A partner at one of India’s top early. India’s CAGR is much higher than any other country that Forrester forecasts in the region. and books online.3 Currently.8 billion is still less than other countries in Asia Pacific.7 The following factors are influencing this growth: ■ Venture capitalists are bullish on eCommerce growth. Inc. © 2012. The eCommerce Market In India Is Poised For Rapid Growth eCommerce revenues in India will increase by more than five times by 2016. and Russia). India currently appeals to global companies looking to sell online using their English-language websites. traditionally a category that shifts online in the later stages of eCommerce development. Investment firms are also diversifying to include retail sectors that have faced challenges offline: Women’s lingerie. unlike online consumers in cities. for example. In 2011. shoppers in metropolitan India are driving eCommerce: These consumers are primarily buying travel. ■ Online grocery shopping is starting to appeal to the upper. for example. Grocery. such as China and Japan.4 And although spending per online buyer remains low. Another venture capital firm in India that is investing heavily in eCommerce stated that it is confident that consumers in both urban and nonurban areas are ready to shop online.
retailers often view urban and rural users as having two distinct goals: Many of the former shop online because they have more money but can’t access the products they want (such as unique or imported items).15 © 2012. moved online to sell its full range of products. testing shipping options that work in rural areas. for example. while many of the latter shop online for things they need (such as shoes) but can’t access or can’t access cheaply where they live. India has close to 1 billion wireless subscribers: As of May 2012. Inc. multiple retailers are building warehouses outside central locations. Croma. eCommerce retailers in India are expanding their offerings to the online population outside metropolitan India and are investing heavily in the infrastructure to support these cities. com is already seeing demand for its products outside metropolitan India: 50% of its sales are outside India’s 10 biggest cities. and subsequently marketing these to semi-urban and rural consumers.12 Social networks have not been major drivers of eCommerce transactions in other markets.14 While 3G penetration today is estimated to be in the low single digits and users complain of low network speeds. ■ Large retailers are looking to build an online presence. Reproduction Prohibited August 13.13 And in mobile. And global multibrand. 2012 . yet these sites play an important role in driving consumers online and getting them to engage with brands. With 51 million Facebook users (5 million of whom joined in the past three months alone). mobile will be a key tool in helping users connect in a market where overall Internet penetration remains low. For example. the Telecom Regulatory Authority of India reported more than 929 million wireless subscribers in the country. Additionally. India is ranked as Facebook’s third-largest audience in the world after the US and Brazil.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 3 ■ eCommerce is expanding into nonmetropolitan India. The social and mobile trends that are prominent worldwide are also underway in India. multichannel retailers like Walmart that are currently restricted by India’s foreign direct investment (FDI) laws are anxiously following developments to take advantage of opportunities as they arise. To widen their reach. Forrester Research.11 ■ Social media and mobile are helping accelerate eCommerce adoption. one of India’s largest consumer electronics stores. offering payment options like cash on delivery (COD) that provide options for the unbanked.10 Online apparel retailer Myntra. Some brick-and-mortar retail operations are also recognizing the opportunity online in India.
a situation that venture capitalists have identified as unsustainable in the long term. but the retailer considers this option necessary to develop consumer trust and confidence in the retailer. The cost is high. Reproduction Prohibited August 13. Like eCommerce retailers in other emerging markets such as Brazil.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 4 Figure 1 Forecast: India Online Retail Revenues (B2C And C2C). ■ Free door-to-door shipping is commonplace. To compete in India’s nascent eCommerce market. but it will deliver within 24 hours for an extra US$0. 2012 And 2016 US$8. © 2012. Inc. Retailers should be aware that: ■ Consumers expect the returns process to be seamless and convenient. relatively quick delivery of online orders. and retailers have made doing this convenient — at their own cost. Forrester Research. 2012 .8 billion US$1. Source: Forrester Research Online Retail Forecast. for example.88. often inconvenient process to prepaid return labels as the eCommerce ecosystem develops. online shoppers have come to expect the option to return items purchased online. companies investing in the space must consider how long they can sustain this type of offering. offers free shipping for the majority of its items and delivers within five days. One of the top online retailers in India. it is standard for eCommerce retailers in India to offer free. has gone so far as to offer an at-home pickup service for returned goods. 2011 To 2016 (Asia Paciﬁc) Online Consumers In India Have Specific Demands As the eCommerce market in India develops. Traditionally. Inc. for example. MyGrahak offers free 48-hour delivery. online retailers have little choice but to offer the same convenience and low cost that their local counterparts are offering. so will its consumers.6 billion 2012 78361 2016 Source: Forrester Research. While retailers cite free shipping as an essential first step to drive customers to shop online and win customer loyalty. While such at-home pickup for returns is typical in other emerging markets. the shopping culture in India is not returns-friendly. markets tend to shift from this labor-intensive. HomeShop18. However.
In addition to the challenges of offering free shipping.17 Payment options and Fulfillment are the key to localization In India. payments and fulfillment are two of the areas that retailers must most heavily localize.com. These payment options are necessary to offer consumer convenience but will pose a challenge for non-Indian companies. ■ In India. retailers also face hurdles in matching the highly discounted prices that leading online retailers have traditionally offered on their sites. cash on delivery.19 Online bank transfers are also a common online payment method: In the past three months. is a popular option — with 23% of online shoppers in metropolitan India choosing to pay for online purchases with cash. Symantec.18 However. By doing so. thereby giving customers without an international credit card the option to purchase with a localized payment.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 5 ■ Consumers have been trained to expect low prices. COD return rates tend to be much higher than when a consumer pays online: The COO of a logistics © 2012. Inc. overcame that problem by linking its site to Flipkart. and 41% have paid with a debit card. As in most markets. sees 60% of its transactions paid for with COD. Local players in India offer a variety of payment options (see Figure 3). Even those companies that offer a variety of localized payment methods can hit challenges with the infrastructure: Payment gateways. for example. eBusinesses Must Offer A Variety Of Payment Types In India. While COD can be a great way to acquire new customers. for example. are notorious for being inconsistent. Reproduction Prohibited August 13. Myntra.com ceased operations in late 2011. return rates on these orders can be staggering. citing its unwillingness to engage in a price war with retailers selling below cost to gain customers. one of the top Western security software retailers in India. for example. online payments present multiple challenges.20 Local retailers offer the option to use a bank transfer with a long list of partner banks. there are government restrictions that keep non-local players from offering local payment solutions. Like most emerging markets. Forrester Research.22 Indeed. 24% of online buyers in India used one to pay for a purchase made online (see Figure 2). COD remains too big to ignore. most commonly referred to as COD. as in all other markets. these businesses position themselves to capitalize on growing online spending as infrastructure issues are addressed. venture capitalists report COD return rates of up to 25% in some categories. In India.16 New entrants have struggled to keep up: Upstart Taggle. with failure rates as high as 35%. eBusiness professionals must keep the following in mind: ■ Local partnerships are essential to localized payments. retailers can take a series of steps to ensure they are offering the payment types that most appeal to consumers today. credit and debit card payments dominate in India: 44% of online buyers cite having paid with a credit card.21 COD is essential to reaching first-time shoppers who fear sharing their information over the Internet and shoppers who don’t use widely accepted cards and banks. 2012 .
” also (and confusingly) known as COD. Forrester Research. a courier brings a mobile point-of-sale (POS) machine to the shopper’s door to accept payment. Q3 2011 78361 Source: Forrester Research.167 Indian online adults (18+ and online monthly or more) who bought products online (multiple responses accepted) Source: Asia Paciﬁc Technographics® Online Survey.24 Online retailers in other emerging markets also offer such options: Amazon. To appeal to those who prefer to pay with cards. Inc. retailers in India have started to offer “card on delivery.com. © 2012.23 ■ COD can mean more than just cash on delivery. With this payment option. offers this option to online shoppers in China. 2012 . Inc.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 6 company serving the Middle East and South Asia recently cited return rates seven times higher on purchases made via COD than via online payment methods. Reproduction Prohibited August 13. for example. Figure 2 Payment Options In India Cater To Consumers’ Payment Preferences “Which of the following payment methods have you used in the past three months to pay for products you bought online?” Credit card Debit card Online bank transfer Cash on delivery 24% 23% 44% 41% Base: 1.
retailers are coming up with solutions to problems as they arise: ■ Larger online retailers are building out in-house delivery solutions. In a move similar to online retailers in other emerging markets — for example.com 78361 Source: Forrester Research. leading online retailer Flipkart solved its fulfillment issues with an in-house delivery department. Logistics Are One Of The Largest Hurdles For eBusinesses In India As in most emerging markets. 2012 . for example. 360buy in China and Ozon in Russia — the retailer uses its own trucks and employees to fulfill orders to ensure customers receive superior service.25 © 2012. While not an option for all companies. Reproduction Prohibited August 13. No full-service eCommerce solution provider exists for companies interested in outsourcing all parts of their offering in India. To overcome these challenges. Inc. smaller retailers may ultimately be able to take advantage of the networks of big players: Russia’s Ozon.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 7 Figure 3 Localized Payment Options Are A Must In India Source: Snapdeal. Deliveries to remote areas can require retailers to piece together multiple logistics partners. Inc. For example. Forrester Research. is starting to make its logistics network available to smaller eBusinesses for a fee. the infrastructure to support eCommerce in India remains at the development stage.
For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 8 ■ Effective fulfillment solutions often require multiple couriers. Reproduction Prohibited August 13. Inc. eBusinesses should take advantage of this growing trend by including a mobile website as part of their offering — ensuring that it is accessible on both feature phones and smartphones. and DHL International do deliver in India. FDI regulations currently keep multibrand retailers from establishing a business in India: Amazon. altered the business model it used when entering other markets and launched in India with an online shopping service. ■ Multibrand retailers should be ready to launch as soon as FDI constraints are lifted. ■ Savvy businesses will make mobile a part of the eCommerce mix from the start. eBusinesses will need to manage every step of the eBusiness operation — from site design to fulfillment solutions to employee training. Junglee. In India. R e c o m m e n d at i o n s a flexible strategy is the key to succeSS in india’s ecommerce market eCommerce “norms” are still being established in India. To offer your customers the best experience — one that reflects your brand’s service level — Forrester suggests the following: ■ eBusinesses must be willing to work with many different partners. FedEx. no single player today can handle all aspects of the eCommerce business on behalf of major retailers or brands. For example. Leading eCommerce sites in India today tend to build their capabilities rather than buy. While the mobile opportunity in India is nascent. where even capturing a standard address for a consumer can be challenging. If a retailer’s usual shipping method will not get a package to a customer. While India Post.com. frequently on a bike. our interviews revealed that online retailers frequently rely on couriers to deliver the last mile. While it is impossible to know exactly when and if the FDI restrictions will be relaxed. eBusinesses entering the Indian market must be aware of the need to work with a variety of partners and be willing to work through the challenges of integrating multiple solutions. given the relatively low penetration of smartphones in India today. The lack of a wholly developed eCommerce ecosystem and underdeveloped towns require retailers to creatively fulfill an order. foreign eBusinesses with an interest in India should map out their potential offerings in India now so that they can move © 2012. 2012 . where the eCommerce market is just developing and experienced eBusiness professionals are still hard to find. they send the package using FedEx or DHL to the nearest package distribution center and hire a local courier to pick up the package and deliver it to the customer’s door. bike delivery is often the most convenient option. Instead. it will use more than one shipping method. it is undeniably going to be a critical part of how consumers interact online. Forrester Research. for example. com. although that scenario is likely to change as more global players with existing vendor partners enter the market. In rural areas.
It will be hard for slow movers to get a piece of the action. MSN also offers a multilingual site. © 2012. Guangzhou.085 consumers ages 18 and older in South Korea. including access to additional details and metrics not included in this report. global businesses often overestimate the number of consumers in India who speak and understand English fluently. Kannada. Forrester’s proprietary primary consumer and executive research. 2011 To 2016 (Asia Pacific). ■ Be prepared to move beyond English to differentiate longer term. including public financial documents. and Ahmadabad). Australia. For more information on Forrester’s ForecastView offering.com. 2012 . or Tamil. please contact us at data@forrester. where they developed extensive experience with industry and company forecasting. Q3 2011 in July 2011 of 7. Global media sites have already taken notice of India’s diverse online population: Yahoo. Forrester develops comprehensive historical and base-year market size estimates based on a variety of sources. Forrester weighted the data by age. and Tamil. metropolitan China (including Hong Kong. New Delhi. and market research. Hyderabad. Supplemental MATERIAL Methodology Forrester Research conducted the Asia Pacific Technographics Online Survey. Hindi. we did not come across a single major site in a language other than English. All of Forrester’s forecasts are designed by a dedicated team of forecasting analysts who build the models. Inc. Forrester Research. Australia. Forecast analysts have backgrounds in investment banking. and Xian). Malayalam. The forecast data in Figure 1 was drawn from the Forrester Research Online Retail Forecast. Bengali. and geographical distribution to be representative of the adult population in each country or region surveyed. While it is a safe bet that online buyers in India will predominantly be English speakers in the short term. management consulting. for example. Wuhan. gender. Chennai. and metropolitan India (including Mumbai. Hindi. Respondents in India completed the survey either in English or a native language: Marathi. provides news in Bengali. with a heavier weight attributed to these countries’ largest urban areas. eBusiness leaders should consider multilingual websites as a potential long-term option for differentiating their offerings and appealing to consumers who may understand English but prefer a local language. Kolkata. Beijing. and analysis of the Internet traffic database. Chengdu.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 9 quickly when this type of investment is allowed. In our research. given that so many global companies already have their sights set on the market. The samples in South Korea. Reproduction Prohibited August 13. The survey for all other countries was administered in the country’s or territory’s official language. Japan. The samples in India and China are representative of the urban population. and manage the process of formally building consensus among Forrester’s analysts. Marathi. and Japan are geographically representative of the adult population according to the latest country-specific census. As part of the forecast modeling. conduct extensive industry research. The sample in India is representative only of the SEC ABC groups. executive interviews. Shanghai. Bangalore.
Pune.2% internet penetration rate. 2011 To 2016” report. The next four most populous cities in India are Bangalore. This sector saw 33 deals raising approximately US$107 million in investment. 2 3 4 5 6 7 8 9 Source: Steven Millward.com Snapdeal.pwc. Source: Debjoy Sengupta.” The Times Of India.cnn.pdf). For more information on the growth of the online retail market in India. Inc. March 14. June 14. Reproduction Prohibited August 13. Q3 2011.” CNNMoney.indiatimes. February 21. Source: “Time for shakeup in India’s e-commerce. “India achieves a 10. 2012 (http://www. “Ahead of India’s E-Commerce Boom. 2010 (http://articles.indiatimes.” The Economic Times.” PwC (http://www. Metropolitan cities are broken down as follows by IAMAI.5 million and 1 million.” Tech in Asia. April 10. Source: “MoneyTree Venture Capital Market Navigator.htm). Forrester Research. 2012. 2012 . timesofindia. Source: Asia Pacific Technographics Online Survey.com/2012-04-10/news/31318824_1_internet-userspenetration-number-of-facebook-users). May 31. MyGrahak Hopes To Raise $3. the Internet and Mobile Association of India. Hyderabad. 2012. “India’s economic growth slows sharply. Mumbai. The top four most populous cities in India are Delhi. timesofindia.com/2012/05/31/news/economy/india-gdp/index. Small towns are towns with a population of less 10 © 2012.techinasia.com/2010-03-14/india/28117934_1_second-language-speakers-urdu). Source: Asia Pacific Technographics Online Survey.com/2012-02-21/services-apps/31082650_1_e-commerce-consolidation-venturecapital).com/mygrahak-investment-plans/). and Ahmedabad (other four metros).ru/en_RU/ru/technology/assets/MoneyTree_Russia_2011_eng_final. For more information on the growth of the online retail market in India.indiatimes.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 10 Companies Interviewed For This Report AaramShop BindaasBargain eBay Flipkart. Non-metros are towns with a population between 0. and Chennai (top metros). eCommerce related projects attracted the most investment in 2011. 2011 To 2016”report. 2012 (http://articles. 2012 (http://articles. “Asia Pacific Online Retail Forecast. see the April 16.com Sonata Software Symantec Source: Annalyn Censky. 2012 (http:// money. Kolkata.5 Million This Year.com Helion Venture Partners ENDNOTES 1 IndoUS Venture Partners Myntra. Q3 2011. see the April 16.economictimes. Source: “Indiaspeak: English is our 2nd language.” The Times Of India. Cities with a population of more than 1 million but less than the metros are small metros. “Asia Pacific Online Retail Forecast.
com Rolls Out Card on Delivery Service.com/mygrahak-card-on-delivery/). Source: Asia Pacific Technographics Online Survey.” Tech in Asia. No Poach. “MyGrahak. “Ozon: Surviving the Long Winter of the Russian Internet. Source: Swati. 12 13 14 15 16 17 18 19 20 21 22 23 24 25 © 2012. July 6. 2012 (http://pandodaily.wsj. February 12. Q3 2011. Source: Asia Pacific Technographics Online Survey.to_1Ef5T&utm_campaign=social%20media&utm_medium=share%20button&utm_ source=Twitter&utm_content=E-Commerce%20in%20the%20Middle%20East%20grew%20300%%20 in%20the%20past%20year). Source: Anshoo Sharma. For more information on how Facebook affects eCommerce.com/2011/12/indian-ecommerce-site-taggle-com-shuts-down/). “Emerging Trends In Indian E-Commerce: On Logistics. July 17. It’s Not a Square Though. Source: Nancy Messieh.pdf). Source: Asia Pacific Technographics Online Survey. “India Takes Steps to Open Economy. 2011 (http://www. “Emerging Trends In Indian E-Commerce: On Logistics.” The Wall Street Journal.” MediaNama.com/2012/05/223-emergingtrends-in-indian-e-commerce-on-logistics-no-poach-payment-gateways-more/). Q3 2011. “Will Facebook Ever Drive eCommerce?” report. March 31.com/News-Feed/SectorsInfotech/3G-fails-to-strike-the-right-note-with-users/ Article1-810396. Reproduction Prohibited August 13.in/WriteReadData/PressRealease/Document/PR-TSD-May12. 11 Source: Rajesh Roy and Paul Beckett. March 19.html). May 30. 2012 (http://thenextweb.gov. Source: Rohin Dharmakumar. 2012 (http://www. Source: Willis Wee. 2011.com/ article/boardroom/can-flipkart-deliver/33240/0).trai.” The Next Web.medianama. Source: “Highlights On Telecom Subscription Data as on 31st May 2012. Payment Gateways & More.5 million. “Indian ecommerce site Taggle.For eBusiness and Channel Strategy Professionals Trends In India’s eCommerce Market 11 than 0. Source: Shrenik Avlani. “3G fails to strike the right note with users. December 6. Source: “Facebook Statistics By Country.” Socialbakers (http://www. 2012 (http://www. Forrester Research.com/article/SB10001424052702303754904577532520602068292. 2012.medianama. Q3 2011. June 3.buzzom. 2012 . Payment Gateways & More.hindustantimes. May 30.aspx). 2012 (http://www.com/facebook-statistics/). “E-Commerce in the Middle East grew 300% in the past year.com/2012/03/31/ozon-surviving-the-long-winter-of-the-russian-internet/).com/2012/05/223-emergingtrends-in-indian-e-commerce-on-logistics-no-poach-payment-gateways-more/).” PandoDaily.” Hindustan Times.socialbakers. 2012 (http://www.techinasia. 2012 (http://online. (http://www. Inc. “Can Flipkart Deliver?” Forbes India. Source: Sarah Lacy. see the April 7.com/me/2012/06/03/e-commerce-in-the-middle-east-grew-300-in-the-pastyear/?awesm=tnw.” Buzzom. 2012 (http://forbesindia. Source: Anshoo Sharma.” Telecom Regulatory Authority Of India.” MediaNama. July 4. No Poach.com shuts down its operations.
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Civil Aviation. Mr. Agriculture. ASSOCHAM has over 100 National Committees covering the entire gamut of economic activities in India. Security. Tourism. Moscow. e-Commerce. Biotechnology. D. Real Estate. Rural Development etc. fiscal and social policies which will be of benefit to the trade and industry. Information Cyber Technology. Infrastructure. pro-active.rawat@assocham. Rawat Secretary General ASSOCHAM Ph: 011-46550555 Email: d. It has been especially acknowledged as a significant voice of Indian industry in the field of Corporate Social Responsibility. Sharjah. Energy Power.com . Nanotechnology. Economic and International Affairs.s. effective and forward looking institution playing its role as acatalyst between the Government and Industry. Entertainment & Media. Education. Environment & Safety. ASSOCHAM renders its service to over 4. Defence.00. India’s top corporates. Company Law.. trade. Telecom. ASSOCHAM has also signed MoU partnership with Business Chambers in more than 75 countries. medium and small scale units and Associations representing the interest of more than 400 Chambers and Trade Associations from all over India encompassing all sectors. Legal Reforms. UK and USA. S. The Chamber has its international offices in China. Corporate Finance. ASSOCHAM established in 1920 and has been successful in influencing the Government in shaping India’s economic. Corporate Governance.About ASSOCHAM ASSOCHAM acknowledged as Knowledge Chamber of India has emerged as a forceful.000 members which includes multinational companies. Banking & Finance. Pharmaceuticals.
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