STUDY OF THE CURRENT SCENARIO, CHALLENGES, AND PROSPECTS OF E-COMMERCE IN INDIA

Abstract

Electronic commerce has evolved into a revolutionary force that is reshaping the landscape of worldwide business and commerce. At the same time, it presents both novel and uncommon opportunities and challenges related to the industry. India's dynamic and diversified economic environment is paying much attention to it as a driver of inclusivity, growth, and innovation, and due to this, it is gaining much attention. This study investigates the numerous advantages and disadvantages of e-commerce in India. The study includes information on the socio-economic effects of the sector, the regulatory environment, technological advancements, consumer patterns, and potential future development. The research emphasizes the importance of establishing a robust e-policy framework to overcome challenges and make the most of opportunities within the country's socio-cultural and economic environment. In addition, the paper highlights the significance of empowering small businesses and craftsmen, creating employment opportunities, and enhancing the level of comfort experienced by customers. The utilization of the revolutionary power of a digital economy via vision, foresight, and collective effort is how India may realize its aspirations of becoming a worldwide leader in the digital era. This is despite the potential problems that may arise along the path. Keywords: E-Commerce, Current Scenario, Technology adoption, Mobile commerce, Payment systems