E-business in India would be worth Rs 400 million by 2003, say PriceWaterhouse Coopers; McKinsey pegs it at $10 billion by 2020, or 1 per cent of world e-commerce. By 2004, 3 million households would be on the Net. And ad revenues would touch $220-600 million by 2010, says an IMRB study.Business-to-business (B2B) e-commerce is projected at $2-4 billion in 2004, or 1 per cent of total transactions. In the US, this figure is 2 per cent, to go up to 10 per cent by 2004.Everyday, the NSE gets about 1.75 lakh hits, HMV sells CDs and cassettes worth Rs 10,000 through the Net, HLL conducts commodity exports through its site. Bennett & Coleman collected Rs 2 crore in Internet ad revenue in '98.
AS the contours of a digital economy become clearer, the one powerful fact that emerges is that the Net will offer enormous business opportunities. It's travelled a long way from being the playground for tyros and scientists to becoming the battleground of corporations and governments. Estimates of e-commerce have ranged from $6-10 billion by the millennium. And the above facts demonstrate powerfully that e-business is more fact than fiction in tomorrow's India. However, recent surveys have also identified several issues which could well determine the future of e-commerce in India.