E-commerce in India and other BRICS Countries: Advantages, Barriers and Prospects
Introduction of information technologies, transfer to the digital economy and the development of e-commerce are on the agenda all over the world today. India pays great attention to the development of e-commerce and plans to strengthen cooperation with other BRICS countries (Brazil, Russia, China, South Africa) in this area. An increase of the e-commerce is a new paradigm of the development of international trade of the five countries. It can become their economic growth driver. This problem is important, but still insufficiently studied and not enough reflected in the economic researches. Author revealed the advantages, problems and the main directions of the development of e-commerce in BRICS countries. Author defines the Intra-BRICS e-commerce cooperation. The advantages of e-commerce are: (a) increasing in the volume of cross-border trade and payments; (b) possibility of entering new markets; (c) development of direct trade cooperation without intermediaries; (d) improving the sectoral structure of trade; (e) increase in the volume and growth of trade; (f) expanding the scope of activities of small and medium enterprises in the international market; (g) increasing the level and effectiveness of trade cooperation between countries; (h) reducing the cost of organizing trade interaction.
Index Terms - BRICS countries, B2B, B2C, e-commerce