03-05-2022

Meaning
The term electronic commerce (ecommerce) refers to a
business model that allows companies and individuals
to buy and sell goods and services over the Internet.
Ecommerce operates in four major market segments
and can be conducted over computers, tablets,
smartphones, and other smart devices.
E-commerce, in full electronic commerce, maintaining
relationships and conducting business transactions that
include selling information, services, and goods by
means of computer telecommunications networks

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Following the Five reasons for transacting online

• Lower transaction cost= Doing e-business on the net is cost-effective;
a basic over-the-counter transaction costs Rs. 20 to process. Over the
web, the identical transaction costs about Rs. 1 only..
• Economy= Unlike traditional firms, in e-commerce, there’s no rental
of store, space, insurance, or investment in infrastructure
• Higher Margins= thanks to the lower costs of processing transactions,
margins are higher in e-commerce. Better customer service.
• Better customer service= E-commerce means better and quicker
customer service. Customers get direct access to their accounts over
the net, which saves time and money. Knowledge Markets.
• Knowledge Markets=E-commerce helps create knowledge markets.
Small groups inside big firms may be funded with working capital to
develop new ideas.

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India is ready for E-commerce

• There is a rapid increase in online transaction and E-commerce which
indicates the awareness among peoples this is the time to push
peoples towards e-commerce.
• Online transaction is traceable govt. can identify and can keep a
record of the transaction which will reduce corruption in India.
• Online transaction can reduce the cost of paper currency which will
save a lot of money and paper. E-commerce will also reduce problems
of fake currency.
• E-commerce is safe and protected there are various protection and
firewalls present in each layer and due to its traceability refund is
possible.
• The world is moving toward the e-commerce and India have to take
some step to push peoples toward e-commerce.

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