The Indian Ecommerce industry has evolved over the last few years and surging ahead. With a host of established domestic as well as and e-commerce multinationals keen on expanding their operations in India, Indian Ecommerce industry is poised to grow exponentially in the next 10 years.
The overall economic scenario has been steadily attracting an host of overseas investors and are pumping billions of dollars into Indian eCommerce ventures. Though, Online shopping is still in its infancy in India, many investors see India as the world’s next big eCommerce opportunity. Recently Flipkart, has raised $1 billion in mostly foreign capital after building its registered users to 22 million. Amazon is ready to pump in $2 billion into developing its Indian arm. business. Snapdeal, whose investors include eBay, has raised at least $234 million in the past year.
India’s ecommerce revenue has grown explosively over the past three years despite only 11 percent of Indians having
access to the Internet, according to a report by KPMG and the Internet & Mobile Association of India. Online sales are growing at more than 50 percent annually and are on track to reach $8.3 billion by 2016, Crisil estimates. KPMG estimates that ecommerce could contribute 4 percent of India’s GDP by 2020, compared to a projected 10 percent for the country’s IT and call-center outsourcing industry.
With a largest youth population in the world and a significant and ever growing Internet-savvy consumer base, Indian Ec
ommerce market is growing fast and has the potential of reaching a mostly untapped market of 1.2 billion people. As a result Indian Ecommerce market is on the threshold of providing thousands of employment opportunities in the coming years.
Digital India Project
Further with the kicking off of Modi government’s ambitious “Digital India project” that aims to offer a one-stop shop for government services, the country is on the threshold of witnessing a spurt in job opportunities. Digital India promises to transform India into a connected knowledge economy offering world-class services at the click of a mouse Through, “Digital India project”, the government hopes to transform India into a connected economy to also attract investment in electronics and manufacturing and thus create millions of jobs and support trade.
In order to effectively implement the project the Prime Minister Narendra Modi ahs even created a new formulae: IT+IT equals IT – that means India Today plus Information Technology (through Digital India) will yield India Tomorrow. The government has planned to digitally connect the entire country and will be implemented in a phased manner, The project will be supported by 20- and 40-hour modules on digital literacy in regional languages, which the government plans to run over the next few years.
The government strongly emphasis the need to provide open access to “broadband highways” across cities, towns and villages which in turn would give a fillip to trade across the country and will result in a significant surge in e-commerce.
With over 900 million mobile phone users, a rapidly growing smartphone market and a tech savvy young population with enormous buying power, India is the place to watch out for international majors. Will anyone ignore such potential market?. That is precisely what the both the national and international players are vying with each other for a substantial share of pie in the market.
Besides, Ecommerce can throw open the opportunity for thousands of small- and mid-sized businesses to sell their goods online. It will open up international markets for the SME sector and can become an important facilitator for the growth of the telecom and domestic air cargo industries. Adding more spice to the already heated market, is the government of India’s Digital India project.
The current scenario gives companies an opportunity to partner with it in a bid to strengthen the information technology (IT) infrastructure with both technology and online solutions. There will be a great demand for skilful IT engineers, both hardware and software, Besides, the rapidly growing smartphone market and ever increasing Internet usage on mobiles has paved the way for an app revolution in India in 2015.
According to a recent report by the consulting firm, Deloitte, the burgeoning smartphone and mobile internet usage, a growing developer community and the potential for regional/localised apps are likely to favour an app revolution in India in 2015
As a result, India is expected to have the largest number of software developers by 2017. With around 300,000 app developers, India has already emerged as the second largest Android developer community in the world after the U.S. The expansion of 3G network coverage and the rollout of 4G networks in 2015 are expected to further boost smartphone sales in the country. Mobiles will continue to gain importance as E commerce is likely to fuel the app revolution.
The current trend is likely to fuel the growth in vertical e-commerce with the tide turning from IT adoption being led by consumers to being led by enterprises. With international ecommerce giants eyeing Indian market and the home grown players keen on strengthening their operations, the Indian ecommerce industry is all set to grow rapidly over 30 percent and in the process create up to 50,000 jobs in the next two-three years.
E-commerce firms also would be looking to hire across different levels of hierarchy and functions. Most of them are focusing on hiring lateral talent for niche technology functions as well as experienced hands from FMCG, consumer durables entities etc. Most of the openings will be in the areas of retail management, data analysts logistics and marketing.
With the Indian ecommerce industry going bullish, many of India’s leading industrial groups such as Reliance Industries, Aditya Birla, Tata, Future Group and Arvind Retail are vying with each other to hire top talent across the domains besides the early movers like Flipkart, Snapdeal and Jabong to hire talented managers. Even smaller start-ups and brands like Anita Dongre, Chumbak and W are adding to the hiring frenzy.
It is no doubt, that the exponential growth of the Indian Ecommerce industry has fuelled the need for talented professionals across various verticals. The stupendous growth will spur the creation of new capabilities and human skills in the areas of back-end operations as well as front-end operations such as . software development, app development, payment gateways, website maintenance, logistics, supply chain, packaging, marketing and management, besides social media experts..
With increased spurt in online and ecommerce gaining acceptance in India, primarily among youths, plenty of job opportunities galore in ecommerce arena. The plethora of opportunities that are available in the ecommerce industry, also throws open the moot question that while there is an increased demand, do we have the adequate number of skilled people to execute business strategy in these emerging areas. In reality, the skills required are in short supply.
Overall, the recent developments in the ecommerce industry has propelled the opportunities for talented professionals as most organisations are trying to outbid each other for top talent. The spurt in the demand for certain functions and roles has not been met by the supply of skilled professionals. Though many are keen on honing their skills demands still exist for high quality output in various functional roles.
At this juncture, rather than being bullish over the ecommerce sector, ecommerce players need to cross train employees to address e-commerce skill shortages. Further, the job creation has been one of the key agendas of the new government with its focus on digital revolution, it is time to channelize the potential of Indian youths, as one million youth enter our workforce every month, and provide impart proper training to budding youngsters
Always, businesses look for people who can add extra value to their business. Honing the skills and tuning the potential of the youth in the right direction by imparting the necessary technical skills for an e-commerce company is likely to be the simplest and most effective long-term solution.
– M D Sridharan