According to Jean-Francois Van Kerckhove, eBay Inc’s vice president - Corporate Strategy, India is among the fastest growing e-commerce markets in Asia.
“75 per cent growth in e-commerce is outside Japan, North America and Western European Union,” said Jean-Francois, while addressing the 3rd National Conference on Digital Commerce in Mumbai on Tuesday.
However, he stressed that India needs to take some key steps over the next couple of years to set the pace in the field of innovation and e-commerce.
“Establishing broadband infrastructure and networks through private and public sector collaboration can enable innovations and growth of e-commerce business,” pointed out Jean-Francois.
He pressed on the government’s role in formulating regulations and policies that can boost and promote the online trade and small businesses without any restrictions.
“Business-friendly regulations can drive web-based transactions, businesses and entrepreneurs and more number of people can gain benefits. Also, locally relevant technology needs to be innovated to push Internet-based commerce,” explained Jean-Francois.
It’s been over five years since eBay Inc., entered India and it has been growing at a healthy rate of 64 per cent annually. Beside the business growth, the company has invested substantially in India by setting up development center at Chennai with strong technology development team of 2000 people.
“The local technology team develops products for India as well as global markets and the team is highly talented and important for eBay,” added Jean-Francois.
eBay India, formerly Bazee.com, is a 100 per cent subsidiary of NASDAQ-listed eBay Inc., which has over 93 million active registered users globally and 2.5 million users in India. It offers sale of goods and service by individuals and businesses across 39 global markets.
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