Emphasizing on the PM focus on enhancing India’s e-commerce sector, the honorable minister mentioned that it is time for the industry to be the main game changer in taking the India’s vibrant e-commerce sector to the next level and she assured government full support towards the same.
Dr Aruna Sharma, Former Secretary, Government of India started the summit with quote “India has immense potential to become the next superpower and the first step towards achieving that is establishing a trustworthy business model. Aided with progressive technology and reliable services, e-commerce platforms are not only making the shopping experience innovative and convenient for consumers but also empowering small businesses to reap the benefits of digitization. Various product safety and customer trust initiatives by players like Amazon have led to a synergy of assurance amongst customers, brands, and sellers across all levels, bringing about a revolution in shopping of Indian customers and increasing the trust between sellers and consumers."
Mr. Pradeep Multani, President, PHDCCI, mentioned that the Indian E-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest e-commerce market in the world by 2034. India’s e-commerce sector is expected to reach US$ 111.40 billion by 2025 from US$ 46.20 billion in 2020, growing at a 19.24% CAGR, with grocery and fashion/apparel likely to be the key drivers of incremental growth.
The e-commerce market leaders took bold and innovative steps to develop the fledgling industry. Their focus on increasing both customer and retailer trust with enhanced product safety, and timely and reliable delivery boosted product trust in e-commerce by providing consumers a vast choice of reliable and safe products directly from genuine sellers. It is noticed that the e-commerce leaders are constantly upgrading to high-end Artificial Intelligence (AI), Machine learning (ML) technical tools and mechanism to scan their listings, provide features like user ratings and product/ service feedback tools to improve product trust and safety.
Mr. Sanjay Chaudhary, Director, Compliance, Amazon India, said that they have brought to fore leather products from Hailakandi in Assam, to handloom products from Maharasthra’s Osmanabad to fruits and vegetables from Bijapur in the state of Karnataka, and black rice from Chandauli in Uttar Pradesh. “All of this available nationwide, and globally. By connecting suppliers and consumers digitally, e-commerce portals ensured India’s economy stays afloat even during the crisis. These portals quickly realigned with shifting realities of state-specific lockdowns, supply chain bottlenecks, and distributed logistics to ensure customers are serviced, despite all odds. The lockdowns couldn’t stall the delivery of essential items and other goods to households, and kept local kirana stores operational and in business. As an e-commerce leader, Amazon launched initiatives such as Amazon Karigar, Saheli and Kisan stores to bring a vast choice of reliable and safe products directly from genuine sellers, right at fingertips and at the doorstep. I’d go as far to say, the e-commerce portals mitigated effects of the pandemic, and fostered customer-supplier trust like never before,” said Mr. Sanjay Chaudhary.
Davneet Kaur, The Umbrella Store (Amazon Seller) - “On behalf of the seller community in the country, I would like to extend my gratitude to the esteemed ministers and government officials present here. It is a great honour to be present here today among some distinguished dignitaries. When the country was overcoming the consequences of the pandemic, online platforms like Amazon helped small businesses retain trust of consumers by ensuring quality feedback and transperancy at every stage of purchase. Devised by advanced technology and logistical support, e-commerce entities have helped MSMEs and entrepreneurs reach out to new set of customers and establish the loyalty for their brands. Not only that, but it also introduced a range of awareness initiatives for both sellers and consumers which led to the growth of utmost trust in e-commerce entities.
