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22nd May 2012

The rise of E-commerce business in India

The e-commerce frenzy is booming in India nowadays, many e-commerce portals are popping up every second in India. The biggest challenge in present scenario is how to deal with the issues mushrooming amidst this growth? The main problem plaguing the ecommerce business is- Lack of proper infrastructure and online frauds.

Due to budget constraint many small business in India overlook the importance of authentic software. Moreover, many small businesses are showing interest in online business and most of them are not even aware of how to go about securing and protecting their online business. Many online companies don't have a basic antivirus on their servers let alone a firewall. The rampant software piracy in India has made small business vulnerable to spy and Trojan attacks. Many business use pirated software, which has high chances of getting injected with malware, virus and bots. It is extremely unsafe to use online transaction on such servers as bank and credit card details could be easily stolen while doing the transaction. According to Norton, half of the Indian Internet users are unaware of the online security solutions available to them.

Overcoming these setback

A huge percentage Indian online market is impaired by these challenges. However, there are few sectors like financial and banking sectors, have raised themselves above these challenges successfully and they represent the real growth of India. Many of the reputed banks and financial institution has beefed up their cyber security by taking charge to control the online frauds. To protect their interest as well as customers' interested many reputed banks have beefed up their cyber security by following the best practice in the industry such as implementing Secure Socket Layer encryption. Banks are also educating their audience by sending them SMSes and emails regarding secure online transactions. Some banks are also utilizing other medium of communication like newspaper and magazines and having a prominent section dedicated to cyber security tips and suggestions.

The Reserve Bank of India has announced that theu will take strict action against the banks who do not implement guidelines on electronic security and operations by 2012, this has been a very encouraging and legitimate stance towards the progress of online security and discouraging online frauds. More over many ecommerce sites are now offering cash on delivery which is encouraging the users to make more transaction with online stores.

There has been significant improvement done by ecommerce companies as well as banks in India to encourage online purchase. Because of which there has been a significant growth in online purchase, which is essentially good for e-commerce market in India.