The craze of online shopping is increasing day-by-day and with that, the number of online shoppers is also increasing. As a result, ecommerce companies are doing good business. But to check their contribution towards the country’s economy, the Indian Government has come forward with some measures that also include the proposed Annual Survey of Services.
According to reports, the Central Statistics Office is trying to measure the entire ecommerce service sector. As a part of it, the Ministry of Commerce is also planning to capture some useful data of online marketplace sector through efficient IT-enabled services.
As stated in a recent official paper, “Within the services sector, is the share of newly-emerging areas such as software exports and ecommerce.” It is known that the Annual Survey of Services is probably to be launched next year, which would help the Government analyze the performance of this sector in a better way. Right now, the Government does not have any such detailed data for the said sector.
An official stated, “As of now, the consumer price index inflation will be based on brick and mortar markets where people physically go to buy goods and services. Even though ecommerce is growing rapidly, in India it is still not of a size or scale comparable to physical markets.”
One of the recent Morgan Stanley reports estimated that India’s ecommerce market would grow from $102 billion to $119 billion by 2020. It also expects that the number of online shoppers in the country would rise from 50 million in 2015 to 320 million by 2020.
However, the Central Statistics Office still considers that the overall ecommerce market has not developed up to the mark to capture the price trends!