E-commerce companies such as Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe, Fynd and scores of others have come together to establish a trade association, The E-Commerce Council of India (TECI).
Online brands such as Mamaearth, Superbottoms and Azah, which focus on specific segments such as baby care products and women’s hygiene products, are also part of the group that has collaborated to launch TECI.
Kunal Bahl, CEO and co-founder of Snapdeal, said the e-commerce sector in India is an increasingly important part of the economy, unlocking tremendous value for buyers and sellers. “It is catalysing growth opportunities for allied businesses, and MSMEs and has the potential to create large scale employment across the country,” he added.
TECI’s vision is to help and guide the growth of the e-commerce ecosystem in India. It also seeks to engage closely with private and public stakeholders with the aim to help develop a robust digital commerce sector.
TECI members account for more than 7.5 lakh online sellers and service providers. Every month, more than 100 million users interact with the online businesses operated by members of TECI.
More than 30 global and domestic institutional investors have invested more than $2.25 billion in the enterprises founded by TECI members.
“The e-commerce sector adds to the nation’s growth and help small businesses reach nationwide,” said Siddharth Munot, co-founder of Bewakoof.com.
Source: The Hindu