Economic and Social Impacts of e-Commerce

The article explores the economic and social impact of e-commerce. E-commerce is currently growing at 30% .shopping site eBay Inc. is growing at 60%. The number of customers of the company has increased from one million users to 2.5 million in India in the last four years. Some of the popular imported items imported by Indians include home decor, branded and unbranded apparel, accessories, and technology products like laptops. Payments through PayPal and mobile (phones) are significantly contributing to the growth of e-commerce. Digitization of books, films, video games are also driving the growth of e-commerce. People who buy on iPad buy items that are about 30% higher in price than people who buy on the iPhone or PC. For a country such as India, one of the most important benefits of e-commerce is its potential to help a developing rural community to leap-frog into the knowledge paradigm. E- Commerce is providing useful resource for growth of microfinance and MSME’s. The positive effects of e-commerce can be magnified beyond purely commercial growth to have a profound impact on all aspects of rural community