E-business in India could amount to around $10 billion in value by 2008, with business-to-business (B2B) deals leading the initial growth, states a Nasscom-McKinsey report.
The report, which is yet to be released, states that as per conservative estimates, Indian industries can achieve 0.3 per cent online penetration by 2004 and 1 per cent penetration by 2008.
However, the report cautions that the growth of e-business in India will depend largely on development of the correct environment. It cites the absence of of a regulatory regime and cyber laws, and poor telecom infrastructure as impediments .
E-businesses are businesses which operate through the Internet, allowing electronic exchange of information, goods, services and payments.
The report states that India has the potential to create e-business worth $1.5 billion by 2004 in both B2B and business-to-consumer (B2C) arenas which include connectivity, online retailing and portals/communities targeting NRIs.
However, global spending on e-commerc
