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E-commerce: An Indian Perspective
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E-commerce: An Indian Perspective E-Commerce: Phase I The first phase of e-commerce lasted from 1996 to 2001. It helped in shaping new rules of commercial transactions in the electronic marketplace. For the developed countries e-commerce business platform was their next stage of business progression. This phase saw replication of ‘Silicon Valleys’ in India. India followed the developed countries without realizing that one needs technology tools and business maturity to understand this new medium of business. The result was mushrooming of ‘dotcoms’ as new business engines without proper infrastructure. This boom has been followed by the logical bursting of the ‘dotcoms bubble’. The dotcoms bubble burst of 2001 left behind some useful lessons in terms of e-commerce basics, i.e. without the spread of technology, development of critical infrastructure, one cannot have revenue generating e-commerce activities. E-Commerce: Phase II Post 2002, we are on the threshold of the second phase of e-commerce. The lessons that were learnt in Phase I (1996-2001) have been taken care of. The top three categories in terms of retail consumers are: business/investment and entertainment/lifestyles; Other growing areas are Airline reservation, Railway reservation, Tourism, e-shopping etc. E-commerce & India Rapidly growing B2B sectors Low growth in B2C sectors Stagnating C2C sectors Improving C2B sectors E-commerce: Changing Perception Better information technology infrastructure Wider acceptance of online payment system Legal recognition to e-commerce practices Adoption of security standards by the industry Case Study: BPCL The Rs. 60,000 crore BPCL is one of the leading petroleum products refining, marketing and distribution companies in India. It’s operations are strongly backed by modern IT solutions and systems spread across the length and breadth of the entire geographical region. It has generated business worth Rs.2000 crore through its website www.ebiz.bpc.co.in which currently caters to 2,500 customers. It is receiving orders from 400 customers 24x7 Annual IT investments of Rs.130 crore has resulted into a benefit of Rs.10,000 crore annually.
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