THE DICHOTOMY OF FINANCIAL SECTOR AND INDIAN ONLINE RETAIL MARKET
Journal Title: International Journal of Retail Management and Research (IJRMR) - Year 2017, Vol 7, Issue 1
Abstract
Financial sector is the backbone of any economy and it subsidizes immensely in the mobilisation and distribution of resources. Until the mid-nineties, corporate money related administration in India was a generally boring and serene action. Since then Indian economy has achieved high growth in an environment of macroeconomic and financial stability. India's way of changes has been not the same as most other developing business sector economies: it has been a deliberate, slow, wary, and relentless process, without many twists that could be seen in different nations. The money related framework was described by broad controls, for example, controlled loan costs, coordinated credit programs, frail keeping money structure, absence of legitimate bookkeeping and hazard administration frameworks and absence of straightforwardness in operations of major budgetary market members (Mohan, 2004b).In addition, a significant number of the more profound established issues of the Indian economy in the mid-nineties were likewise emphatically identified with the monetary area. The issue of monetary constraint in the feeling of McKinnon-Shaw (McKinnon, 1973; Shaw, 1973) over the top basic and smaller scale control that hindered budgetary development and expanded exchange costs, and so on. What have been the major contours of the financial sector reforms in India? What led to the cautious development of the financial sector of India? The multi-pronged approach towards overseeing capital record in conjunction with prudential and mindful way to deal with budgetary progression has ensured financial stability in contrast to the experience of many developing and emerging economies. As the economy rises a higher development way, and as it is subjected to more prominent opening and monetary coordination with whatever is left of the world, the financial sector needs all the considerable developments. The purpose of this study is to identify the relationships between the financial sector reforms and the Indian online retail market and how the existing scenario deals with the digital/online retailing business which represents more than 10 for every penny of the nation's Gross Domestic Product (GDP) and around 8 for each penny of the work, India being the world's fifth-biggest worldwide goal in the retail space. It also inspects the long term outlook as India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users
Authors and Affiliations
SATISH CHANDRA OJHA
Keywords
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