Description

There has been a massive increase in the usage rate of computers and mobile phones over the years. The increase in the number of telecommunication service providers offering various schemes of internet connectivity leveraged the usage rate further. People could purchase items, sell items, communicate with others, and perform their banking and financial transactions merely by sitting at their home or office with just a click of their mouse by using electronic platforms. These electronic platforms are referred to as 'E-Business'. E-business simply means the use of electronic applications for conducting business operations. A drastic change has taken place in the business environment due to globalization and advancements in Information and Communication Technology (ICT). Business organizations have also taken advantage of the electronic means in conducting day-to-day operations similar to the public. The increased competition which occurred as a result of globalization made survival difficult for many businesses. The businesses had to keep themselves updated with the technological advancements around the globe and thus ensure that they were competitive enough to continue in such a global marketplace. Identifying the considerable potential of E-business in the country's overall economic development, the Government of India had taken up many measures to encourage the spread of E-business across all business organizations, especially the Micro, Small, and Medium Enterprises (MSMEs).