Project Report For Online Business
The project report for Online Business is as follows.
The Internet had reshaped India’s way of doing business.
The Indian e-commerce industry is forecast to expand from US$ 38.5 billion in 2017 to US$ 200 billion by 2026.
A rise in the use of data and smartphone entry has caused most of the progress for the industry.
The country’s continuous digitization is projected to increase India’s total online customer from 636.73 million in FY19 to 829 million by 2021.
It is estimated to almost double from $ 125 billion by April 2017 to US$ 250 billion by 2020, mainly supported by e-commerce.
Market potential & Strategy
The Indian online business sector is predicted to grow from US$ 38.5 billion in 2017 to US$ 200 billion by 2026, thanks to rising smartphone ownership, the arrival of 4 G networks and growing consumer income.
Online retail sales in India are anticipated to accelerate at 31% in 2018 to reach US$ 32.70 billion, spurred by Flipkart, Amazon India, and Paytm Mall.
Smartphone sales have increased by 8% in 2019 to attain 152.5 million units, causing it the quickest among many world’s top 20 mobile phone markets.
Internet infiltration in India increased by just 4% in 2007 to 52.08% in 2019, recording a 24% CAGR from 2007 to 2019.
The internet penetration rate in India is anticipated to rise to 829 million by 2021 from 687.62 million as of September 2019.
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