Thursday, December 1 2022

New Delhi [India], April 16 (ANI/PNN): The e-commerce industry is changing the way business is done in India. It is growing at an exponential rate and is expected to rise from US$46.2 billion to US$350 billion in 2020. Additionally, the country allows 100% FDI in B2B e-commerce, which is fueling plans for industry expansion. This industry growth is often attributed to the increase in internet penetration in India. As smartphones and the internet have become accessible to more and more people, the number of online shoppers has increased. This has led to the current state where India’s online buyer base is only third in the US and China.

The industry has held firm despite a global pandemic that has affected nearly every business. E-commerce players have recorded impressive sales growth, which has bolstered the growth capacity of the industry. This unbridled growth fuels direct and indirect jobs in the industry. E-commerce and direct selling are driving a change in entrepreneurial mindset in the country. Direct selling has provided small business owners with the ability to sell their products and services directly to their consumers.

In line with the progressive vision of the industry, players in the field like Soumo Rudra have been practicing direct selling for eight years. He says about 15-20% of his global network of more than 2,000 distributors have quit their jobs to become full-time employees. Rather than being job seekers, young people are now seeking to become job creators. Increasing the number of entrepreneurs in a developing country like India is vital. As Nandan Nilekani says in his book “Imagining India” about his vision for the country in 2050 – “The country will need more entrepreneurs”. For this, we must encourage more and more young people to do something for themselves.

People like Soumo Rudra are a key factor in this. After working for more than a decade as a professional in the IT industry, he embarked on his entrepreneurial journey. He and his team now share their experiences with budding entrepreneurs helping them achieve financial freedom and creating jobs for others in the process. Speaking from his experience, Soumo Rudra says, “The e-commerce industry has the potential to meet the aspirations of the next generation of entrepreneurs. Soumo and his team are now looking to expand their business to multiple regions around the world, including the US, UK and Dubai. Their main goal is to target rural areas, as they believe that is where they can make real change. This type of change would eventually lead to the development of the country and lay the foundation for a better society.

The promising growth of the e-commerce industry can fuel the entrepreneurial aspirations of the nation’s youth. It is high time to channel this to generate jobs and income. This story is provided by PNN. ANI shall in no way be responsible for the content of this article. (ANI/PNN)

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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