Digital Economy and Development of E-Commerce

Everywhere in the world the production and businesses processes are becoming more and more computer and Information Technology based. According to the 'techopedia' definition of Digital Economy is a common term used for all those economic processes, transactions, interactions and activities that are based on digital technology. It is not only based on the use of internet but any of the many digital tools used in today's world. As a part of the digitalization of business processes the method of marketing and selling have seen a revolutionary change that is in the form of Ecommerce. Again quoting 'Technopedia' Electronic commerce is the marketing, buying and selling of merchandise or services over the internet. It encompasses the entire scope of online product and service sales from start to finish. The digital tools used in ecommerce include computer platforms, applications, solutions servers and various software formats manufactured by e-commerce service providers and for increasing and facilitating online sale and purchase. Ecommerce is as much a need of the buyers as the sellers. There are digital modes of financial transactions associated with ecommerce as online payments and refunds are to be managed. Dr. Vishakha Apte "Digital Economy and Development of E-Commerce" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18712.pdf