e-commerce Archives - Page 3 of 3

5th Micro and Small Business Summit in Mumbra Concluded

by admin | May 25, 2021 | Business Summit, Events, News

Mumbra: The 5th Micro and Small Business Summit on Import Export was successfully organized by RIFAH Chamber of Commerce & Industry and Jamaat-e-Islami Hind (JIH) Mumbra on Sunday, the 9th April at Diamond Hall, Kausa Mumbra. In this one day summit more than 1000 people attended in which 400 are Registered Importer Exporters along with other 2000 micro & small entrepreneurs and knowledge gatherers, students and businessmen etc.

The summit focused on government schemes for importing & exporting goods & products, using E-commerce sites like eBay, Alibaba etc importing, exporting industrial products in national & international market that is helpful for micro & small scale business and given explanation about usage of internet and social networking sites like Facebook, Linkedin, Twitter, Web portals etc can play a key role to develop the business in domestic as well as international market.

Seminar sessions on various government schemes for existing and beginner entrepreneurs were conducted. APEDA’s Mr. C.B.Singh (Assistance General Manager Western Region) told Apeda has 54% of total sale from India. Apeda is Indian number one platform dealing in Agri food. If we work in an organised and standard way than finding an opportunities is just a mere task. Apeda is working on subsidy’s to replicate it further. Apeda also have Scheme to avoid international custom chaṛge. Halal is Standard which we only thing deals with Meat rather its Has vast network within Itself. We highlight on data so as make supplier understand and set good market Strategy accordingly.. He ga ve details on how Mumbra businessmen and entrepreneurs can advance their businesses by registering their companies, which provides assistance with startups, training, sale and exports.

e-Commerce site eBay & Alibaba representatives gave knowledge about registration, its benefits and tools & technique for importing & exporting their industrial products on their websites by giving demo.

Mr Ashraf Muhammadi of Rehbar Financial consultant Pvt. Ltd. gave explanation on Interest Free Islamic Banking and the benefits one can avail from it. They offer both services- investment opportunities for investors and business loans to the Mumbra businessmen. “Interest free banking brings investors and businessmen closer and both are benefitted”, averred Mr Ashraf. There are few gaps which rehbar is trying to fill up: Finance structure, Investors management, Investment monitoring, SWOT analysis, etc. Rehbar has a team how continuously work to nullify interest under sharia compliance.

Mr V.S. Ravi(International Head of Indo Africa Chamber of Commerce) told there is Opportunities In Africa: very important thing is to understand the trading countries requirements, size of market, consumption and usage. Key competitive factors is to look into the demand and the margins, be very specific in your calculations, payment system prevailing, line up credit, etc

Mumbra Business Young & Successful Entrepreneurs Award were given to 5 Mumbraites. They told their success stories based in Mumbra & their 10 to 15 years of struggle. This kind of event was aimed at cleaning Mumbra of the tag of an underdeveloped suburb and help entrepreneurs set up industries highlighting the fact that Mumbra has a huge logistic hub close by in Bhiwandi and an MIDC in Taloja-Mahape belt and can be accessed by two national highways.

Keeping in mind the Import Export Business Summit we have kept very limited stalls for exhibition. Stalls are for those who gave services to Import Export business such as E-Export Import Business to Consumer (eBay), e-Export Import Business to Business (Alibaba), A 2 Z Business Documentation Maker(SHOP ACT,VAT TAX,SALES TAX,PANCARD, etc – Noble Associate), Import Export Code Provider, Digital Signature(DSE) Provider, Legal Advisor(CA) of NSRS & Co., Logistics and Air Ticketing Tours & Travels, Interest Free Finance Consultancy(RAHBAR), Islamic Finance Bait un Nasr Co-operative bank,

It was a win-win deal for both- the exhibitors service providers as well the visitors, many of whom were astonished to witness the high level of knowledge imparted in this. Indeed, as previous such summits have shown, budding businessmen get to learn about new avenues and opportunities here, allowing them to expand and strengthen their enterprises.

Mr. Mauzam Asre(President-JIH Mumbra) told that apart from being directly beneficial to the business class, such programs also serve to highlight the wide spectrum of Islam- that it is not merely confined to masajids, but is here to solve the issues of all mankind. Speaking to this scribe, he called upon other units and organizations to emulate such programmes.

Despite low net use, India’s e-commerce triples in 5 years

by admin | May 25, 2021 | Opinions

By Chaitanya Mallapur: Although India’s use of the internet is lower than many poorer countries, the country’s e-commerce sector tripled – or grew by 209 percent over the last five years – from $4.4 billion (Rs.20,020 crore) in 2010 to $13.6 billion (Rs.83,096 crore) in 2014.

This data was contained in a reply given to the Lok Sabha in March 2016.

India’s e-commerce market is likely to reach $38 billion (Rs.252,700 crore) in 2016, according to an Associated Chambers of Commerce & Industry of India (Assocham) report released in January 2016.

The online retail sector in India is expected to be a $1 trillion (Rs.660,000 crore) market by 2020, according to a recent report by the Confederation of Indian Industry (CII) and Deloitte, a consultancy. The study indicates that more e-commerce will trigger big innovations in India.

The Goods and Services Tax, once implemented, is expected to boost the growth of e-commerce by simplifying taxation and logistics, said the CII-Deloitte report.

Internet penetration across the country is rising with as many as 354 million users reported as of September 2015. Online shoppers in India have increased from 20 million in 2013 to 39 million in 2015, an increase of 95 percent over three years.

India’s e-commerce market rises despite low net use

But India’s internet penetration – the percentage of Indians who use the net – is low, 19 percent in 2014, as IndiaSpend reported earlier. Compare this with Australia (90 percent), the US (87 percent), Japan (86 percent), Brazil (53 percent) and China (46 percent).

In 2014, only 18 of 100 Indians used the internet, against 49.3 for China and 48.3 for Vietnam. Even poorer countries, such as Ghana, had greater internet penetration – 18.9 users per 100 people, according to a Mint report. Similarly, mobile subscriptions in India were 74 per 100 people in 2014, lower than Bangladesh (80), China (92), Indonesia (129) and Vietnam (147).

Mobile internet spend has increased from 54 percent to 64 percent from 2014 to 2015, attributed to high-speed 3G and 4G internet connectivity at some of the world’s lowest prices, fuelling e-commerce growth.

Despite the rise in broadband and mobile internet users, speed remains a major constraint. The average broadband speed in India is 2 mega bits per second (mbps), ranking 115 globally, IndiaSpend has reported. Similarly, the average mobile internet speed is 1.7 mbps, ranking below Thailand, China, Hong Kong and Singapore.

In March this year, the government allowed 100 percent foreign direct investment in online retail marketplaces-electronic platforms that connect buyers and sellers.

India’s e-commerce giants battle a survival of the fittest

As competition grows, and international competitors step in, domestic online retailers will struggle, experts predict.

US retailer Amazon became the second-largest online marketplace by shipments in India last month, after domestic rival Flipkart, pushing former number two, Snapdeal, to third place.

Flipkart’s growth has virtually stalled since the middle of last year and the leadership team hasn’t figured out a way to kick-start sales, according to India Value Fund Advisors partner Haresh Chawla.

“Its gross merchandise volume (GMV) – sales or revenue in online retailing – sold over a given period of time has not grown substantially, which had grown by over 200 percent per annum for the past three years,” Chawla added.

Similarly in the taxi business, multinational Uber is in race with India’s Ola, the current domestic-market leader. Last month, Uber claimed it would overtake Ola by market share within 30 days.

Jabong – an online fashion portal – reported a drop in sales and cut losses in 2015 and is now struggling to find a buyer.

“Consumer internet start-ups find it difficult to navigate slowdowns,” said Chawla.
“Traditional companies usually recover from these cycles. But technology-led companies simply go bust. They have very little consumer loyalty to start with. Most bribe consumers to grow rapidly and cutback (on profits), causing them to implode.”

(In arrangement with IndiaSpend.org, a data-driven, non-profit, public interest journalism platform, where Chaitanya Mallapur is a policy analyst. The views expressed are those of India Spend. The author can be contacted at respond@indiaspend.org)

Next Entries »