E-Commerce: Problems and Prospects

Abstract

Technology evolves on a daily basis, resulting in a constant stream of fresh grounds for action. Due to the country's cost competitiveness and natural advantage, business has become global. The slogan of contemporary business is interdependence. E-commerce is a sort of business model in which the exchange of products and services, as well as the transmission of payments, data, and conditions of sale, takes place via an electronic network.

Today, E-commerce offers huge prospects in a variety of industries. The widespread usage of ICT has paved the way for new corporate advancements. Due to its 24-hour accessibility, worldwide accessibility, and typically excellent customer service, e-business retail is undoubtedly handy. Its development would be heavily reliant on strong IT security systems, for which the required technical and legislative measures must be implemented on a continuous basis and reinforced as needed.

Companies, organizations, and communities in India are starting to realize the promise of e-commerce; nevertheless, significant difficulties must be solved before e-commerce can become a useful tool for the general public. It is stated that e-Business is created by, by, and for the people.

The intricacy of e-rising commerce's role and its numerous elements are discussed in this study. The study analyses contrasts conventional and electronic commerce. It recognizes the advantages while also recognizing the drawbacks. Discuss its influence, as well as the concerns and restrictions, challenges, and possibilities that it presents in the current e-world.