HIDAYATULLAH NATIONAL LAW UNIVERSITY

Raipur, Chhattisgarh

BANKING LAW PROJECT

ON

“E-COMMERCE AND ITS IMPACT ON GLOBAL SCENARIO”

Submitted By-:

Saurabh Bara

Sec – C

Roll No. 142

Guided By-:

Dr. Kiran Kori

Faculty, HNLU, Raipur

 DECLARATION

I hereby declare that the project work entitled “E-commerce and its impact on Global
Scenario ”submitted to HNLU, Raipur, is record of an original work done by me under the
guidance of Dr. Kiran Kori, HNLU, Raipur.

i
 CERTIFICATE

This to certify, to whomsoever it is concerned, that this work is done by me under the
guidance of Dr. Kiran Kori. This work is purely original and is largely based upon the cases
and rulings in that cases.

Saurabh Bara

ii
 ACKNOWLEDGEMENT

Firstly, I would be obliged to take the opportunity to thank my subject teacher Dr.
KIRAN KORI, Faculty, HNLU for allotting me this topic to work on. She has been very kind
in providing me all the information regarding the project topic and also guiding me through
the completion of this project. I would also like to thank my friends who have provided me
unfailing support.

Lastly I would also like to thank the library and the IT dept. which have been of great
help during this project.

Contents

iii
DECLARATION..................................................................................................1
CERTIFICATE.....................................................................................................2
ACKNOWLEDGEMENT....................................................................................3
AIMS AND OBJECTIVES..................................................................................4
SCOPE OF STUDY............................................................................................4
RESEARCH METHODOLOGY.........................................................................5
Sources of Data..............................................................................................5
INTRODUCTION................................................................................................6
CHARACTERISTICS..........................................................................................8
History of E-commerce.......................................................................................10
Global trends in E-commerce..........................................................................11
E-COMMERCE IN INDIA................................................................................13
E-commerce: A Boon for the Current Economic Downturn..............................15
E-commerce: The world over.............................................................................16
KEY REASONS FOR THE SUCCESS OF E-COMMERCE...........................17
CONCLUSION...................................................................................................20
REFERENCES...................................................................................................21

iv
 AIMS AND OBJECTIVES

The study is focused on achievement of following objectives:

 To assess the latest trend in e-commerce globally.
 The impact of growth of e-commerce.
 To analyse the latest global scenario of e-commerce.
 The impact of growth on overall economy.

SCOPE OF STUDY

This study being “desk analysis" contains views of various writers and researchers of E-
commerce. This study includes the global trends including India as a major source of E-
commerce , increasing use of e- commerce in developing nations , reasons behind success of
e-commerce as an industry , the use of e-commerce in global sourcing , advantages of E-
commerce and several more topics being covered under the project analysis. The use of e-
commerce in various countries and their influence over the people or citizens of that country
is remarkable.

v
 RESEARCH METHODOLOGY
Sources of Data
For having the detailed study about this topic, it is necessary to have some of the secondary
information, which is collected from the following:-Books, Websites and Newspapers. So in
this basically secondary data is used in collecting the information. The sources of data are:

Websites:

 Wikipedia
 Wikinvest
 India-commerce

Newspapers:

 Hindustan Times

Type of Study

The research design or type of study specifies the methods and procedures for conducting a
particular study. The type of research design applied here are “Descriptive” and “Desk
Analysis” as the objective is to have knowledge about the ecommerce in global Scenario.
Descriptive study means situation, but not the causal linkages among its different elements.
Descriptive studies (such as a cross-sectional study) help in generating hypothesis on which
further research may be based. Desk analysis is to Gather and analyze information, already
available in print or published on the internet.

vi
 INTRODUCTION
E-commerce (electronic commerce or EC) is the buying and selling of goods and services on
the Internet, especially the World Wide Web. In practice, this term and a newer term, e-
business, are often used interchangably. For online retail selling, the term e-tailing is
sometimes used

Electronic commerce is generally considered to be the sales aspect of e-business. It also

consists of the exchange of data to facilitate the financing and payment aspects of business
transactions.

E-commerce can be divided into

 E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes

gathered into a "virtual mall"
 The gathering and use of demographic data through Web contacts
 Electronic Data Interchange (EDI), the business-to-business exchange of data
 E-mail and fax and their use as media for reaching prospects and established
customers (for example, with newsletters)
 Business-to-business buying and selling
 The security of business transactions

Today Ecommerce is an integral part of business because of various reasons like:

 Ease of use & Accessibility all across the globe 
 Great variety & easy compassion of products from different vendors 
 Trusted payment channels 
 Shopping can be done sitting in the convenience of home shopping, hence it is
less time consuming. It is therefore very important for any new entrepreneur to
understand the significance of E-Commerce and should know how to utilize this tool
for the growth and development of business.

So, whether you have an existing business or launching a brand new business, whether the
volume of your business is large or small, you can always generate profit by demonstrating
your products or services online, thereby acquiring a large amount of viewer exposure. In
concise, buying and selling will result in profits and returns.

vii
There are so many factors which makes e-commerce to come to the fore front in today's
world. Saving precious time involved in business transactions is really a prominent factor.
Like for instance, net banking makes it easy to carry out money and baking transactions in a
break neck speed as compared to the real banking scenario. This asserts the fact that
Ecommerce is beneficial to both business and consumer wise as payment and documentations
can be completed with greater efficiency and reliability. Another important factor
determining the flow of whole business is connectivity. Connectivity is very important for
both consumers and business. Ecommerce provides better connectivity for all the potential
candidates all over the globe, thus helping in enhancing the business without any
geographical barriers. From the view point of the customer, Ecommerce is a good platform
for hassle free shopping by sitting in your home. The customer can browse through all the
products and services available and can review and compare the prices of the similar products
available in the online space.

In global market scenario, the emergence of Ecommerce as a forerunner has opened up

various windows of opportunities for a variety of online companies and investors. More and
more resources are being directed into electronic securities, internet facilities, business plans
and new technologies due to the boom in the space of E-commerce. As a result various new
markets have emerged from Ecommerce itself giving a boost to the global market.

CHARACTERISTICS

Exchange and Share Data Across the World

Text messages, documents, graphics, photographs, music, video, and much more, can be
converted into data and sent as email attachments or presented on a web site. There are no
postage, printing and packaging costs with eCommerce communications. So, use this new
communications method to work quicker, and in new ways, with customers and suppliers
outside of your locality or country.

Send Messages Faster and Cheaper

When you send a message, you only pay for the Internet access. As soon as the
message arrives at your ISP, it is sent for zero cost to all the people to whom it has been

viii
addressed. Moreover, the message is likely to arrive at its destination, in a matter of seconds
or minutes, depending on the size of the email and its attachments. Think of the possibilities
for saving time and money with email.

Approve and Proof Work Quickly

A quotation, purchase order, letter, design drawings, brochure, or advert colour
proof, etc. can be emailed to you as an attachment for your approval. Using email in this way
can dramatically speed-up the turn-around of work between you and your business contacts.

Introduce Collaborative Working

With fast, reliable and cheap eCommerce communications, it is possible for
colleagues, customers, suppliers and partners, to use collaborative working practices to
manage, share, and enhance the project work, regardless of location where they are at a
particular instance.

Update Employees Instantly With New Policies or Procedures

Email and messengers etc. works well when communicating with colleagues/pals
who are off-site, out of the country,or teleworking.

Hold Web Meetings (Data Conferencing)

A great way to have a virtual meeting is to upload a document (spreadsheets,
project plans, etc) on to a web site and enable it to be viewed and edited in real-time through
the Internet. Holding virtual meetings can save significantly on travel expenses and time.

Take Advantage of Time Differences

As eCommerce communications are so fast and low cost, new business relationship
have been established where work is exchanged between time zones at the end of one day,
which, on the other side of the world, is the beginning of either the same or next day.

Send Out email Automatically

ix
 Event-triggered emails can be used to acknowledge orders made on web sites, and
to update customers on order progress. Alert-emails or SMS messages can also be used to notify
technical support of critical issues or maintenance problems. There, and many other similar
applications, are effortless, cheap, and efficient ways of enhancing customer service and the
brand experience.

Use the Internet to Improve Business Administration

With a mobile phone connected to a portable computer, employees working off-
site can access and update internal information, such as customer records, price lists, time
sheets, schedules, and job reports. Providing remote Internet access for staff makes it possible
for the latest information to be at hand, for administrative tasks such as invoicing, employee
whereabouts, and expense claims etc.

Train on the Web

The multi-media capabilities of web sites make them ideal for creating a virtual
learning environment for employees and customers. When training material is updated, the
latest version is immediately available. On-line learning facilities enable trainees living all
over the world to access courseware when it is convenient to them, and without having to
travel to a training centre, which in turn, saves time and expenses.

Replace the Fax Machine and Save Money

If a multi-page document has to be faxed to many people, it can work out
expensive on telephone bills, especially if a national or international call has to be made. The
cost savings can be huge if email is used instead, and the message can also be sent to multiple
people for no extra cost.

History of E-commerce
Concerning Technology

x
 E-commerce began before personal computers were prevalent and has grown into a
multi-billion dollar industry. The meaning of the term "electronic commerce" has changed
over the last 30 years. Originally, "electronic commerce" meant the facilitation of commercial
transactions electronically, usually using technology like Electronic Data Interchange (EDI)
and Electronic Funds Transfer (EFT), where both were introduced in the late 1970s, for
example, to send commercial documents like purchase orders or invoices electronically.

The 'electronic' or 'e' in e-commerce refers to the technology/systems; the

'commerce' refers to be traditional business models. E-commerce is the complete set of
processes that support commercial business activities on a network. In the 1970s and 1980s,
this would also have involved information analysis. The growth and acceptance of credit
cards, automated teller machines (ATM) and telephone banking in the 1980s were also forms
of e-commerce. However, from the 1990s onwards, this would include enterprise resource
planning systems (ERP), data mining and data warehousing.

In the dot com era, it came to include activities more precisely termed "Web
commerce" - the purchase of goods and services over the World Wide Web, usually with
secure connections (HTTPS, a special server protocol that encrypts confidential ordering data
for customer protection) with e-shopping carts and with electronic payment services, like
credit card payment authorizations.

Today, it encompasses a very wide range of business activities and processes, from
e-banking to offshore manufacturing to e-logistics. The ever growing dependence of modern
industries on electronically enabled business processes gave impetus to the growth and
development of supporting systems, including backend systems, applications and
middleware. Examples are broadband and fibre-optic networks, supply-chain management
software, customer relationship management software, inventory control systems and
financial accounting software.

Global trends in E-commerce

 Government programs are a significant vehicle for c-commerce implementations

xi
  Retail, grocery and logistics industries are the most active in encouraging trading
partners to implement EDI

 Small and medium sized companies demand flexible integration solutions

 European companies focus on core competencies and outsource technology to

consulting groups

 High percentage of first time implementers seek to achieve full integration

 Organizations are seeking a scalable, reliable system that is easy to deploy and
manage

 Software needs to be capable of handing different business processes and must

integrate with existing IT investments

As social media, app stores and global availability become standard, many companies are
looking to enhance the online customer experience. And while retail and other transactions
via Internet are customary, more than ever companies are simplifying the ways in which
customers interact with their website and ultimately make online purchases. Here are eight
trends happening right now in global e-commerce that seek to enhance the user experience:

 Micro-payments – Among the most revolutionary changes in the coming months—

not years—is the use of micro-payment systems from a variety of financial firms, e.g.,
Paypal, Visa, WesternUnion, among others, including banks.  This trend is facilitated
by the W3C working group that approved these protocols and technical standards for
the interworking. These systems will change not only how we carry money but how
we value money and think about purchases.  (Consider how a purchase of $4.99 feels
in a mobile app store vs. at Dunkin' Donuts.)  Payment systems that make it easier to
buy online, coupled with mobile technologies will accelerate the usage of global e-
commerce applications.
 Mobile technologies – More people access the Internet on their mobile devices than
on any other device. We are rapidly approaching the time (if we are not already there)
where designs must be created for the mobile Web first, and for the desktop second. 
Mobile technologies facilitate comparison shopping; with the advent of barcode

xii
 reader apps and price-comparison databases, a consumer could snap a bar code in
Walmart and quickly reference product reviews and prices on walmart.com (or
compare prices with Walmart competitors).  Mobile technologies also facilitate
impulse buys – especially with the advent of micro-payments tied to the mobile
device.  Just recently,  Starbucks customers can not only place an order with their
Smartphone, but also make a purchase.
 Social media – As Facebook has become the most visited site on the Web, the role of
social media, including Facebook and its local clones such as Twitter, is increasingly
important.  Social media sites increasingly act as points of entry to e-commerce sites,
and vice versa, as e-commerce sites build rating, loyalty and referral systems tied to
social media. Group buying (e.g., Groupon) is also gaining mainstream ground, with
many "deal of the day" sites competing for an increasingly savvy consumer base, but
improvements lie ahead as the social aspects and user experience are refined.
 Fulfillment options – I believe that users will want to have multiple fulfillments and
return options when interacting with a vendor: ship to address, courier, pick-up in
store, return to store, etc.  Having many fulfillment options is how customers view
their overall customer experience. Some companies have made a business proposition
online by being exceptional in service to the online channel (e.g., Zappos).
 Global availability – Increasingly, consumers want the availability to buy products
from foreign sites and have them delivered locally.  Thus, currency and customs will
be of growing concern to many online retailers.  Along with this, there will be
concerns with local privacy laws and restrictions on related data collection and
storage.
 Localization – While the trend is to globalize, what’s often more important is to
localize.  User Centric’s research clearly shows that sites that ‘feel’ local – with proper
imagery, language, time/date, weights/measures, currency, etc. – resonate far more
than sites that seem culturally distant or sterile.
 Customizability – Consumers want control, and want to be able to design the details
of the items they purchase.
 Time-based availability – Some of the hottest and most successful sites are those that
have a time-critical response component.  Sites like Groupon, Gilt and others
capitalize on the perception of limited-time availability.  Creating a sense of urgency
drives traffic and purchase behavior.

xiii
 E-COMMERCE IN INDIA
New Gold Rush in E-commerce in India
Kunal Bahl, founder- CEO of e-commerce site Snapdeal.com bought out eSportsbuy.com for
an estimated of Rs.50 crores.

Bahl has 20–million (Rs. 100 crore) stash for acquisition-significant because Snapdeal is
itself a startup-but a rich on. It has raised Rs.52 million from ventures funds.

Bahl is not alone who is scouting for potential suitor. In February this year aggressively
online shopping site Flipkart.com acquired rival Letsbuy.com. Early last year, US-based
social buying site Groupon acquired India’s SoSasta.com and renamed it as Crazeal.com.

And so it seems that e-commerce is not about customers buying goods. It is about firms
shopping for others. Industry trackers say leading sites are gobbling up rivals to build size, or
acquiring customer niches either to add product segments or to get technologies that help
efficient operations.

In the game in which future share issues are on the radar for bigger players, the smaller ones
often prefer to cash out than be crushed in lonely pursuits in an aggressively competitive
game.

At stake is a huge market will growing potential because India has 900 million mobile
phones, with a big chunk of that growing up from voice talk to Internet, wile the current Web
user base at more than 100 million is in itself a significant number.

Industry estimates say India’s e-commerce market will zoom from the current Rs.51000 crore
to Rs.10,20,000 crore in revenues by 2020. The race lead to buyouts-often at the cost of
profitability.

“At present sites are falling over each other to offer deep discounts, but you do not survive
only through discounts. This only creates a disloyal discount shopper who moves from one
site to another in search of the cheaper deal,” said Mahesh Murthy , managing partner of
investment firm Seefund Advisors. Murthy added that sites without a credible differentiation
strategy and loyal customers base would bleed-and will be up for grabs.

Experts say acquisition of other sites is also a good strategy to built brand and broaden a loyal
customer base. Snapdeal.com snapped up eSportsbuy.com to get access to its large catalogue

xiv
of sports and fitness products. Flipkart.com started out with books, added cameras and mobile
handsets and then got Letsbuy.com to acquire muscle in electronic goods, while Groupon’s
buyout was to enter India.

“There in no room for newer players in the general category but there is space for niche
category players,” he said. This has been observed by Prashanth Prakash, partner at Accel
partners, which has invested in Flipkart.com.

Private enquiry is doing a huge amount of work backstage. Venture capitalists say they more
than doubled the funding level in e-commerce over the past year, and the average size of
investment has ranged from Rs.20 to 40 million.

However, having a deep pocket is no guarantee to success. “Money can only delay your
death. The only key to survive is to have a credible differentiation strategy,” Murthy said.

Size is not everything, but could help if investors have a sense of timing. “As the e-commerce
companies grow and get brand loyalty the valuations are expected to increase even further. It
will be the time when we can offload our stake, for hefty profits,” a venture capitalist with
significant stake in leading e-commerce site.

Hundreds of Internet startups went bust in 2000 and 2001 in the “dotcom bubble” and
comparing the current e-commerce rush to that may not be farfetched said Shailen Amin, co-
founder and CEO of footwear sites Bestylish.com.

“There are a lot of guys in this business who don’t have a retail background. They are form
either consulting or technology. So one should ask if they are really qualified to run e-retail
businesses.”

In the world where old-fashioned retail meets high-technology and innovative management,
the winners could well be those who understand dimensions.

E-commerce: A Boon for the Current Economic Downturn

E-commerce: A Boon for India

By the end of 2011, the e-commerce market in India had clocked close to Rs 50,000 cores. It
is interesting to consider whether the global economic downturn may have negatively

xv
impacted the growth of e-commerce or possibly accelerated it as consumers look to new
online channels which can often deliver greater value than traditional stores.

Today, even though there are less than 10 million internet users who are actually engaging in
e-commerce activities, there are about 150 million internet users in India or around 75
million households that are ready for e-commerce.

The growing reach in terms of internet connectivity to the interiors of India coupled with the
positive experiences of end consumers when buying online beyond the metros and big cities
are key drivers of the e-commerce boon in India. Businesses in even the smallest towns and
villages are becoming increasingly aware of e-commerce and are excited by the growth
potential.

The growing penetration of e-commerce along with positive consumer experiences is

reflected in a trend towards higher value online purchases. Today, consumers across urban
India are confident enough to make purchases that exceed Rs 20,000-25,000. Earlier, the
same shoppers stayed in the Rs 2,000-5,000 ranges. According to one study almost 57% of
business for e-commerce product sites came from tier I, tier II and tier III cities while the
eight metros accounted for the remainder 43%. The same pattern was visible in the service
sites too, with tier I, tier II and tier III cities contributing 54% of revenue versus 46 % by the
eight metros.

According to a report by the IAMAI, the current e-commerce market in India is around US$
10 billion. But with different levels of adoption, the market has the potential to grow
anywhere between US$ 70 billion – US$ 150 billion under one scenario and at another level
it can grow between US$ 125 billion – US$ 260 billion by 2024-25.

E-commerce: The world over

Globally, the scenario is much the same. Brazil, one of fastest growing economies in Latin
America, is seeing considerable growth. According to a recent report, it estimates business-

xvi
to-consumer (B2C) ecommerce, including both retail e-commerce and online travel sales,
will total to $18.7 billion in 2017, a growth of
21.9% over the previous year. Brazil will account for more than half of the total B2C e-
commerce sales in Latin America through 2013, thanks in large to its huge populace and
growing number of online buyers.

Retail e-commerce itself in the U.S.is predicted to grow at 17% and it will likely account for
$200 billion in sales in 2017 , according to a presentation at a popular forum. Retail e-
commerce totalled $48.2 billion during the third quarter of 2011; an increase of 13.7%
compared with the third quarter of 2010, according to estimates from the U.S. Census
Bureau. 2011 also saw the European online market boom despite the floundering euro.
Germany’s online trade increased 17% in 2011 to €21.48billion compared to 2010, crossing
the €20 billion mark for the first time, outstripping traditional mail order sales by 10%. A
similar growth rate of 10% to 15% is expected in 2017.

In the global scenario, China is fast emerging as the biggest player in e-commerce. According
to an e-commerce report, by 2015, it may well surpass the U.S. In an astonishing illustration
of its online growth rate, China has added the equivalent of the entire population of France in
internet users in each of the last four years. It will add the equivalent of the entire population
of Canada as e-shoppers in each of the next four years. China is projected to rise from 145
million e-shoppers today to 329 million by 2015.

KEY REASONS FOR THE SUCCESS OF E-COMMERCE

 Shopping 24x7: E-commerce facilitates shopping anytime, anywhere and for almost
anything desired. Busy consumers prefer this to the restrictions of when a mall/shop is
open and the need to physically travel to a shop. Online business takes shopping a
step further by taking itself to the customer creating conveniences of shopping
anywhere and at anytime.

 Reduced operational cost: Since the entire business can be moved online, the need
for physical stores has become obsolete. Less infrastructural investment and

xvii
 associated labour costs drives up the profit margin. The seller can then transfer this
benefit to the customer in the form of discounted pricing which boosts the appeal of
online shopping.

 Easy to compare: It is far easier and quicker to compare prices of goods online,
equipping the customer with the information to decide the right price or terms for
themselves. The comparison is not restricted to items from a single seller, or a single
region. One can explore products across global markets via e commerce.

 Safe & secure: Customers can trust the process of going online and purchasing only
when transactions are fast, convenient and secure. A high degree of integrity is
possible only when the online electronic payment provider is reputable and
trustworthy. In India, all payment transaction providers are required to comply with
the security requirements laid out by the Reserve Bank of India making the system
more robust and reliable.

 Increased reach for the merchant: Just as the customer finds them able to venture
across geographic markets, the merchant too is able to display his product to
customers in new territories. Market penetration also becomes far more achievable
with e-commerce; it is possible for a merchant in Mumbai to extend his reach to
north-eastern cities or even rural villages that are now connected by the online
network.

 Social media trend: In India, with the increasing propensity of social media,
businesses have now begun to engage their customers on social networking portals
such as Facebook. Promotions, sales and new products are increasingly showcased
through such channels and mobile apps are now available that suggest products to
users based on their profiles. These are likely to be rapidly developing marketing
channels for the future.

The e-commerce world is changing rapidly in the digitized world. These e-commerce
developments may have been accelerated by the global economic downturn which may be
driving consumers to find new ways of reducing their costs of living. The online channel

xviii
offers a clear value proposition for both merchants and consumers making it the most sought
after and exciting business model today
In present scenario E-Commerce is playing very essential role in the online business.
Although it is one of the best & cheapest intermediate for reaching out to new customers in
the online market, if e-commerce implemented effectively, it also offers a smart way of doing
online business & expanding it more.
An online business eCommerce podium is planned & implemented to make the most of its
reach to potential customers and provide them with a convenient, satisfying & protected
shopping experience.

Advantages of E-Commerce to the Online Business

 E-Commerce helps to Increase the sales revenue to the business

 Business people can spend less money and earn high profits with e-commerce
 It is very Easier to scale up online
 Easily we can track the segment of customers who are happy with purchasing goods
through online
 Avoid losing sales to competitors who are online
 Instantaneous global sales presence in quick time
 We can Operate the business in 24 *7 basis
 Easily we can increase our business customers
 We set up shop anywhere in the world, self-governing of geographical locations
 Inexpensive way to turn your Web site into a revenue center
 Reduce Customer Support costs via e-mail marketing & customary newsletters
 We can create customized mailing list
 Easily we can drive free traffic to the website
 Instantly we can develop our business across the internet by using various e-
commerce strategies
 Customers can easily buy their products by using different payment gateways
 Develop more shopping carts by using e-commerce
 We can easily promote our business website by using various promotional activities
such as Search Engine Optimization, Pay Per Click Management, Email Marketing,

xix
 Social Media Optimization, Online Banner Advertisement, Online Branding and
Affiliate Management etc
Payment Gateways

Both PayPal and Paymate offer credit card to bank account payments. Using one of

these services you can invoice a customer, they can pay on Paymate and the funds
will be deposited in your bank account ... less a transaction fee.

Unlike a credit card merchant facility you will not have ongoing, minimum monthly
fees... and the transaction fee is better than what most card companies offer small
merchants. Additional these service are being backed into other ecommerce sites and
shopping carts. Ebay for example uses Paypal to process some payments.

The Rise and Rise of Auction Sites

Auction sites such as Ebay and TradeMe have done an enormous amount to get

ordinary people involved in online trading. Today many Ebay merchants are
establishing their own web sites to avoid Ebay and Pay Pal fees. They have learnt
about how to present their product in their Ebay store and what issues are important to
their customers in purchasing their product and now they are ready to start their own
web site.

Security

On the Internet, security is handled by passing "keys" between Internet server and
client browser. When entering a secure site your browser is passed a public key by
which transactions between you and the web server are encrypted. The servers key is
always kept private.

On your web site security can be handled two ways - depending on your budget. You
can "piggyback" on someone else's "key" or you can register and pay for your own
key or SSL certificate at Thwate or Verisign.

Generally today businesses who host web sites offer access to a secure server and you
can use their server and secure certificate for less than if you registered and paid for
your own key.

xx
 However the person browsing your site will notice the URL change to one they do not
recognise - or trust. This may put your customers off (although there is no evidence of
this). Therefore one of the advantages of buying your own key would be to have a
URL for your secure pages that is consistent with the rest of your site.

Presently, in Australia, Verisign may sell you a key for over $800 while foreign
ecommerce providers like Instant SSL can sell it for $150. Although Verisign will
argue that their key comes with a range of value add benefits, the bottom line is the
product, i.e. the key, is the same.

CONCLUSION

 There is a wide acceptance of e-commerce in world due to the internet facilities

available.
 The countries such as India, Brazil, and China etc which are on the path of
development are using e-commerce for carry out various transactions.
 The e-commerce can surpass geographical limits and can prove to be worthy by
reaching to customers. It caters to the demands of both the national and the
international market.
 The e-commerce can help in providing an edge to your rivals in the market as one can
better serve them globally.
 The Countries such as USA, Australia, Canada , UK etc are trying to come up with
something innovative which will change the current scenario.
 The countries are well aware of its benefits and are becoming more innovative in this
field as customers can easily select products from different providers without moving
around physically and it also help business to handle its resources well.

REFERENCES

Web

xxi
  http://www.articlesnatch.com/Article/E-commerce-In-Global-Sourcing-
Scenario/218150 (last accessed on 20th september , 2017)
 http://usa.usembassy.de/economy-ecommerce.htm (last accessed on 20th september ,
2017)
 http://archive.unctad.org/templates/webflyer.asp?
docid=4253&intItemID=2261&lang=1 (last accessed on 20th september , 2017)
 http://en.wikibooks.org/wiki/ECommerce_and_EBusiness/ECommerce_in_Developin
g_Countries (last accessed on 20th september ,2017)
 http://www.wipo.int/copyright/en/ecommerce/ip_survey/chap5.html (last accessed on
20th september , 2017)
 http://www.nytimes.com/2003/11/24/business/e-commerce-report-sensing-economic-
opportunities-many-developing-nations-are.html?pagewanted=all&src=pm (last
accessed on 20th september, 2017)
 http://www.isoc.org/inet99/proceedings/1g/1g_2.htm (last accessed on 20th
september, 2017)
 http://www.bestindiansites.com/top-companies/e-commerce/ (last accessed on 20th
september, 2017)
 http://www.india-ecommerce.com/ecommerce-web-development.html (last accessed
on 20th september,2017)

Books
 Laudon Kenneth C., Traver Carol Guercio (2008) , E-commerce – Business ,
technology , society ,New Delhi ,Pearson Education

Newspapers
 Hindustan Times

xxii