Challenges and Future in Indian Perspective of E-Business: A Review (2015-2024)

E-commerce is a key component of the modern business sector. It is a business model that facilitates the exchange of goods and services, as well as the transmission of funds and data, through electronic networks. India's retail industry is estimated to be worth $600 billion, yet only 5% of all transactions currently take place online. In contrast, e-commerce holds a 15% market share in the United States, highlighting significant growth potential in India. Despite initiatives such as "Digital India" and the decreasing cost of smart phones and data plans, a large portion of India's population remains offline. The country's internet user base grew from 665 million in 2015 to an estimated 829 million in 2021, indicating strong market potential. However, the number of regular online shoppers remains relatively low, with only 50 million making consistent purchases. Addressing this gap is crucial for India to establish itself as a dominant player in the global e-commerce industry. This paper examines the challenges and future prospects of e-commerce in India, focusing on developments from 2015 to 2024.