E-Commerce is Booming in India, Bitcoin is the Future

[OmegaStarScream]

This is the year that eCommerce will see big development in India. Morgan Stanley Research reports a 50% increase from last year.
They rank India as the 10th largest economy in the world, with a forecasted GDP growth of around 5.5%.

Read the full thing here : http://cointelegraph.com/news/e-commerce-is-booming-in-india-bitcoin-is-the-future

[mobnepal]

I agree on this as india have large population and in most of cities have access to internet. Ecommerce site can boom easily like it is doing right in india.
Talking about my country nepal due to lower population company may not get lots of consumers but still ecommerce is getting some eyes here too.

[Carlton Banks]

Talking about my country nepal due to lower population company may not get lots of consumers but still ecommerce is getting some eyes here too.

I thought the electricity system in Nepal was supposed to be unreliable, is that really the case? Sounds like e-commerce would be tough with frequent blackouts.

[Evildrum]

The electrical issue is a big issue but I read somewhere that there are plans to upgrade the power grid. I know planning to and
actually doing so are two big differences when it comes to India.
The e-commerce aspect is also being heavily invested in by some pretty big names and if one of them takes off it should change the game.
Just bringing internet access to the rural areas in India would be amazing,since a majority still live out side the cities.

[gentlemand]

Last time I had a look there were three full nodes in all of India. Looks like it's not quite going stratospheric.

[Evildrum]

Last time I had a look there were three full nodes in all of India. Looks like it's not quite going stratospheric.

E-commerce is not just bitcoin though,so I think once one door becomes functional the others will swing open as well.
India is just so large a segment of the global population that a slight up tick would be a boom.

[gentlemand]

What's the state of banking there for upwardly mobile types? I seem to recall that those Indians who are banked have some type of quasi visa card that's useless outside of India.

[Carlton Banks]

India is just so large a segment of the global population that a slight up tick would be a boom.

Fair point, North America and Europe (Bitcoin's main continental territories) combined still do not quite match the size of the Indian population.

[Yakamoto]

What's the state of banking there for upwardly mobile types? I seem to recall that those Indians who are banked have some type of quasi visa card that's useless outside of India.

I think that banking in India is fairly similar to what we experience as mobile banking, the only difference being that card that you mentioned.

I don't know what banks in India do or how they operate, but I assume it isn't all that different.

[countryfree]

It's difficult to talk about India as a single homogeneous country. I believe there are millionaires in India than in any European country, but there are also millions of Indians without electricity. There are also many Indian villages where streets have no names. Not ideal for receiving anything by mail... But the middle class is growing.

[ruletheworld]

It's difficult to talk about India as a single homogeneous country. I believe there are millionaires in India than in any European country, but there are also millions of Indians without electricity. There are also many Indian villages where streets have no names. Not ideal for receiving anything by mail... But the middle class is growing.

What segment of the society that you talk about above will be most likely to adopt Bitcoin? The millionaires or the poor?

[OROBTC]

...

I wish India the very best in eCommerce and its general economic advances.  I hope they make it.

But, for BTC I believe it will be very slow.  I read (somewhere here at bitcointalk) that India's government is hostile to Bitcoin, that will definitely slow things down.  Their government is very bureaucratic and corrupt, so I doubt there will be ANY support, at least for sometime.

India does have at least a minimal understanding of the advantages of democracy and technology being two huge drivers of wealth creation.  I hope that this understanding increases.

[gentlemand]

What segment of the society that you talk about above will be most likely to adopt Bitcoin? The millionaires or the poor?

Middle classes surely? They're on the rise and becoming hungrier. By the sounds of it the Indian poor manage to add a whole new dimension to poorness sadly.

[Lauda]

I was not familiar with the status of e-commerce in such a country as India. I'm not particularly interested in that area, although I do remember some quotes from the past stating that e-commerce/online shopping will never take off. After reading that article, I'm not impressed with the "Bitcoin is the future" statement.

I read (somewhere here at bitcointalk) that India's government is hostile to Bitcoin, that will definitely slow things down. 

It is up to them whether they want to be behind others or not. Denying Bitcoin is a step in the wrong direction.

[Carlton Banks]

What segment of the society that you talk about above will be most likely to adopt Bitcoin? The millionaires or the poor?

Middle classes surely? They're on the rise and becoming hungrier. By the sounds of it the Indian poor manage to add a whole new dimension to poorness sadly.

Anecdotally, the very rich and the very poor are the strata of people that I find to be interested in Bitcoin. Both rich and poor feel as if they have nothing to lose, whereas the middle class tend to feel threatened (or at least their world view) by the anarchic basis of Bitcoin. The middle-class consistently say things like "sounds like money for nothing" or "they should shut that down, it's for cheaters, that's what I think". Just a straw poll, mind you, but the rationale seems logical.

[Meuh6879]

I thought the electricity system in Nepal was supposed to be unreliable, is that really the case? Sounds like e-commerce would be tough with frequent blackouts.

oh come one ... charge 2h a cellphone and work for 24h ?
pretty easy on this day now.

more easy with tablet ... batterie (10Ah = 40h of use).

[gentlemand]

Anecdotally, the very rich and the very poor are the strata of people that I find to be interested in Bitcoin.

Maybe I should've rephrased it as young professionals. I've no idea what middle class consists of in India anyway.

[The Sceptical Chymist]

Anecdotally, the very rich and the very poor are the strata of people that I find to be interested in Bitcoin.

Maybe I should've rephrased it as young professionals. I've no idea what middle class consists of in India anyway.

Me neither, probably faucet users.  I'd be interested to see how many bitcointalkers hail from India.  Seems like many users have English as a 2³rd language and I suspect that many are from Asia.  But good for India.

[Wapinter]

It's difficult to talk about India as a single homogeneous country. I believe there are millionaires in India than in any European country, but there are also millions of Indians without electricity. There are also many Indian villages where streets have no names. Not ideal for receiving anything by mail... But the middle class is growing.

Yes you are correct to some extent.Almost 0% of Indian population resides in rural areas and most of them dont have even proper potable water facilities.But the urban india is exactly the opposite with fastest growing infrastructure.Bitcoin is more likely to be adopted by educated urban population

[btccashacc]

I'm not surprised, that E-commerce is booming in india and majority of them using bitcoin for transaction,  India has the second largest population in the world and they has second largest internet user in the world, so i'm not impressed that bitcoin will be famous out there