“E-commerce” also known as electronic commerce is defined as the absolute set of procedures that carry commercial or business activities over a network and further aid in performing commercial transactions electronically. This is a new concept in global business world and makes the best use of technologies like electronic data interchange to transfer information or documents electronically. Electronic transactions engage the transfer of ownership or rights to use a good or service. Moreover, this technology can be categorized into “Virtual Storefronts” on websites with online catalogs.

As per recent studies, it has been found that those businesses that attain their patrons all the way through physical avenues like retail stores are now viewing that their expenses are rising significantly in comparison to their revenue. In such a changing business scenario, currently e-commerce is becoming new way to promote their goods/services and at the same time keep on directly linked to their clients.

Today, people want to take pleasure in anything which can save time. With mobile technology and plastic money, they just do not like to waste their time in visiting store to purchase a product. In such a situation, e-commerce is the only means to provide a better solution.

Looking at the present scenario this new online concept has brought new revolution in world and acting as ideal platform to give your business a prospect to discover newer markets all around the globe. Buying and selling goods or services over the internet, has totally changed the business is conducted. Now you can in fact advertise, purchase or sell products on website, pay or accept payments on-line through credit cards and other means of payment collection online.

It is an integral part of your sales strategy. Being one of the cheapest mediums for reaching out to new markets, it also offers a best mode of doing business and expanding it further. Moreover, this technology has enabled people to buy goods and have virtual exposure of various services with a click of mouse button. Many experts think that overall e-commerce solutions will boost exponentially in coming years. Today, electronic commerce is not just about online stores, it is more about money. These days many banks are now offering their clients user-friendliness features to access their bank accounts via the web.

Glancing at the progress in computer technologies in past couple of decades has made computer networks an essential element of the economic infrastructure. The story of India is little different from other developed countries, and presently more and more companies are facilitating transactions over web.

This technology in India is in emerging stage, but the projections points out towards a major explosion in coming years. However, it is estimated that a rising Internet Service Provider (ISP) market will further facilitate e-commerce growth in India. As per McKinsey-Nasscom report, it is also expected that by the year 2008, e-commerce transactions in India may reach to $100 billion.

There has been a climb in the figure of companies’ accepting and using this technology. With stock exchanges finally coming online, this technology in India has started gaining its popularity. With more development in payment and delivery system is projected to take place, the day is not far when India will become a chief competitor in the e-commerce market.