India’s e-commerce currently accounts for a mere 3% of its total retail transactions but is ushering in faster digitisation across the consumption value chain, said Amit Agarwal, global senior vice-president and country head, Amazon India.
Addressing the Bengaluru Tech Summit, Mr. Agarwal said technology and mobile Internet had transformed daily life globally and they were likely to have profound impact on India.
“E-commerce is blurring the line between online and offline and between local and global,” he said.
According to him, the pandemic had particularly highlighted the resilience and optimism of the Indian entrepreneur, as more small businesses and shops were embracing technology to set up online presence and reinvent themselves.
Tens of thousands of neighbourhood stores across the country are expanding their reach by adding more pick-up points, logistics partners, and experience centres, for e-commerce and truly becoming digital entrepreneurs, he pointed out.
“India must grab this rare opportunity with both hands, by focussing on enabling policies that accelerate this shift,” he said.
“It is important we ensure a stable and predictable policy framework that attracts long-term investment, and proactively remove paper-cuts impacting ease of doing business online,” he added.
Amazon India recently launched a service allowing local shops to establish a digital presence on Amazon to serve customers in their locality online.
“We are inspired by the undeterred entrepreneurial spirit and the resolve of India’s micro-entrepreneurs, as they adapt and embrace technology to jumpstart their livelihoods,” Mr. Agarwal added.
These are likely to be a structural shift that propels the country faster towards the vision of a Digital India, catapults ‘Make in India’ to go global at scale, and creates digitally enabled robust businesses that will power millions of livelihoods and help realise an Atmanirbhar Bharat, he said.