E-commerce in India to reach 2300 cr in 2006-07: report

New Delhi, July 6 (UNI) E-commmerce in India will increase by 300 per cent to Rs 2300 crore in 2006-07 from Rs 570 crore in 2004-05, according to the e-bay e-commerce guide released today.

''While India's internet population will reach 100 million by 2007, e-commerce will touch Rs 2300 crore of which Mumbai and Delhi will account for almost 50 per cent of the total e-commerce volume,'' said the e-bay guide released at the conference on new realities in e-commerce.

Every minute consumers trade goods worth Rs 3 crore online globally, said E-bay country manager Gautam Thapar at the release of the report.

The guide also said e-commerce is witnessing resurgence and the second wave of the internet is expected to throw up a whole new range of business opportunities.

E-bay, which is one of the largest market places for e-commerce trades in 89 million items in 33 markets worldwide.

''Gradually falling prices of computer hardware and mobile phones, the growing penetration of internet across the country and ready bandwidth availability are expected to provide fillip to e-commerce. With an increasing internet penetration and a total internet user base of 70 million in September 2005, the opportunities that exist for e-commerce in India is promising,'' the report added.

The guide also demonstrated how e-commerce can help the small traders, artisans and craftsmen in the remotest part of the country can reach to customers far away in India and abroad.

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