E Com Market grows despite the Pandemic onslaughts!
E-commerce market’s revenue stood at $56.6 billion in FY21, says Choubey citing Nasscom
This was informed by Minister of State for Food and Consumer Affairs Ashwini Kumar Choubey in the Rajya Sabha in a written reply to a question related to e-commerce trade.
India’s e-commerce market continues to grow at 5 per cent year-on-year, with an estimated revenue of USD 56.6 billion in the financial year 2020-21, despite the COVID-19 pandemic, according to IT industry body Nasscom. This was informed by Minister of State for Food and Consumer Affairs Ashwini Kumar Choubey in the Rajya Sabha in a written reply to a question related to e-commerce trade.
He said the Department for Promotion of Industry and Internal Trade has informed that no quantifiable assessment has been made in this regard.
“However, as per National Association of Software and Services Companies (NASSCOM), India’s e-commerce market continues to grow at a year-on-year rate of five per cent with an estimated revenue of USD 56.6 billion in FY21 despite COVID-19-led challenges,” he said.
On whether the consumers are facing problems after purchasing the products through e-commerce platforms, the minister said complaints are lodged by consumers on the National Consumer Helpline related to payment, quality and quantity issues, manufacturing defects, and non-providing of services, among others.
The complaints of the consumers are transferred through the Integrated Grievance Redress Mechanism software to the companies concerned for redressal.
In cases where consumers are not satisfied with the redressal, they are advised to approach the Consumer Commission of appropriate jurisdiction for redressal of their grievances,” Choubey said.
Also, the e-Daakhil portal enables consumers to file their grievances online, in the Consumer Commission of their choice.
B2B e-commerce firm Indiamart Intermesh will acquire a 26.23 per cent stake in Agillos E-commerce for Rs 26 crore in an all-cash deal to boost its software as a service portfolio, according to a regulatory filing. The deal is expected to be closed before September 16, the filing said.
“IndiaMART InterMESH Limited has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 26.23 per cent of the share capital (on fully diluted basis) of Agillos E-Commerce Private Limited (AEPL),” the filing said.
The investment shall be in line with the Indiamart Group’s long-term objective of offering various Software as a Service (SaaS) based solutions for businesses, it added.
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