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Potentials of e-commerce in Pakistan

Potentials of e-commerce in Pakistan

 

According to a report issued by a section of the United Nations, Pakistan is one of the top 10 economies in terms of mobile phone and internet users in the world. The Information Economy Report 2017’ released by the UN Conference on Trade and Development reveals frenzy in the people to go online at a time when many countries in the Asia-Pacific region are relatively unprepared to accept the importance of new digital era and technology.With increasing in the number of mobile phone and internet users, the chances of online business have also increased many times and online sellers and buyers are growing and playing a central role in evolving digital economy. At least 42 out of 135 largest digital economy corporations by market capitalisation are based in Asia with increasing online business. Japan, South Korea and China are the leading e-commerce markets in the world and the latter is the largest market for business-to-consumer e-commerce, pointing out that e-commerce is growing at a fast rate in Asia. Various business brands are also flouring in Pakistan. The postal deliveries have also increased from 26 percent 2011 to 43 percent in 2016 while deliveries of small packets, parcels and packages have recorded a double digit increase during the period.

According to International Telecommunication Union, at least 750 million people are engaged in online selling or buying in India and China alone and introduction of new technologies have not only increased productive capacity, but also business volume around the globe. However, the economies, which are reluctant to adopt digital technology, could be left behind in business and trade and ultimately it will affect the world economy. Economists fear lackluster response from underdeveloped nations could lead to increased polarisation and inequalities within their respective societies.In this era of information technology and e-commerce, Pakistan has the potential to exploit its cottage and home based industry. The country is one of the largest agrarian as well as industrial country with growing population of young and educated youth. The big entrepreneurs can also encourage the youth to come toward business than going to service sector. Involving the young generation in business activities could not only increase their volume of trade, but also economy of the country. The UN report also stresses the need for concerted efforts to improve digital economy by developing communication technology infrastructure, education and skills development.