Article on " e-commerce unlocking the global trade" by Shreya Pandey

 E-commerce unlocking the global trade

Shreya Pandey

Roll No. 113

B.Com Semester 2 (2022-26)

_𝙄𝙉𝙏𝙍𝙊𝘿𝙐𝘾𝙏𝙄𝙊𝙉__

Michael Aldrich was the first who invent e-commerce technology. In India, from 1995 to 2005 was the first wave of e-commerce.

China is the first world's biggest e-commerce market.

K. Vaitheeswaran is widely hailed as "the father of e-commerce in India".

The first e-commerce company was fabmart.com in 1999.

 " E-commerce is an advanced way of conducting business online and across the borders". The limitation of conducting business within geographical boundaries & connecting to the global market through offline mode paved the way for the adaptation of a concept called e-commerce.

According to Phillip Kotler --  "A general term for buying and selling procedure that is supported through electronic means."

______________________

𝙏𝙃𝙀𝙊𝙍𝙄𝘾𝘼𝙇 𝘼𝙋𝙋𝙍𝙊𝘼𝘾𝙃 𝙊𝙁 𝙀-𝘾𝙊𝙈𝙈𝙀𝙍𝘾𝙀

1. Transaction cost theory 

2. Marketing

3. Diffusion

4. Information retrieval

5. Strategic networking

𝙃𝙤𝙬 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙪𝙣𝙡𝙤𝙘𝙠𝙞𝙣𝙜 𝙩𝙝𝙚 𝙜𝙡𝙤𝙗𝙖𝙡 𝙩𝙧𝙖𝙙𝙚!? 

 Many business owners dream of their products being used in every corner of the world. The period of Covid-19 unlocked the door for global trade in a bigger way. In this period the revenue for online shopping grew up across the world. 

Cross-border transactions in commerce are the biggest growth opportunity for the Indian e-commerce industries. As per the  𝙛𝙤𝙧𝙚𝙨𝙩 𝙧𝙚𝙨𝙚𝙖𝙧𝙘𝙝, the e commerce is expected to grow at CAGR of 17.3%. 

    

𝙀𝙭𝙖𝙢𝙥𝙡𝙚:-- 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙚𝙭𝙖𝙢𝙥𝙡𝙚 𝙞𝙨 𝙬𝙝𝙚𝙣 𝙖 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙞𝙣 𝙩𝙝𝙚 𝙐𝙣𝙞𝙩𝙚𝙙 𝙎𝙩𝙖𝙩𝙚 𝙥𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙛𝙧𝙤𝙢 𝙤𝙣𝙡𝙞𝙣𝙚 𝙧𝙚𝙩𝙖𝙞𝙡𝙚𝙧 𝙗𝙖𝙨𝙚𝙙 𝙞𝙣 𝘾𝙝𝙞𝙣𝙖. 

• 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙤𝙣𝙡𝙞𝙣𝙚 𝙨𝙚𝙖𝙧𝙘𝙝 = the buyer of USA searches a specific products and discover on online market. 

• 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙨𝙚𝙡𝙚𝙘𝙩𝙞𝙤𝙣 =  the store website select desire product and add it in shopping cart.

• 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 = the consumer proceeds to the checkout process and make the payment using one of offered method credit card and any other online method. 

•𝙞𝙣𝙩𝙚𝙧𝙣𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙨𝙝𝙞𝙥𝙥𝙞𝙣𝙜 = the retailers arrange the international shipping of purchased products

• 𝙘𝙪𝙨𝙩𝙤𝙢 & 𝙙𝙪𝙩𝙞𝙚𝙨 = the product enters the United States through custom clearance. 

• 𝘿𝙤𝙢𝙚𝙨𝙩𝙞𝙘 𝙙𝙚𝙡𝙞𝙫𝙚𝙧𝙮 = the product clear custom it handed over to a local delivery service in the United State 

• 𝙥𝙧𝙤𝙙𝙪𝙘𝙩 𝙧𝙚𝙘𝙚𝙞𝙥𝙩 = the consumer receipt the product at their doorstep. The transaction complete the cross- border of e-commerce transaction. 

 𝙏𝙝𝙚 𝙖𝙫𝙚𝙧𝙖𝙜𝙚 𝙙𝙚𝙡𝙞𝙫𝙚𝙧𝙮 𝙩𝙞𝙢𝙚 𝙤𝙣 𝙩𝙝𝙚 𝙧𝙤𝙪𝙩𝙚 𝙐𝙎𝘼 𝙖𝙣𝙙 𝘾𝙝𝙞𝙣𝙖 𝙙𝙚𝙥𝙚𝙣𝙙 𝙞𝙩'𝙨 𝙩𝙚𝙣𝙙𝙨 8- 10 𝙙𝙖𝙮𝙨.

𝙆𝙚𝙮 𝙛𝙖𝙘𝙩𝙤𝙧 𝙤𝙛 𝙚-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 Un𝙡𝙤𝙘𝙠𝙞𝙣𝙜 𝙜𝙡𝙤𝙗𝙖𝙡 𝙩𝙧𝙖𝙙𝙚

1. The first key factor:  the driving force is to give utmost preference to consumer preference.

2. The second key factor: the ability of the seller to manage and complete transactions through the range of integrated logistics along with payment trusted open marketplace. 

3. The third key factor: make Indian sellers competitive in the global market would be as-----

      • Simplicity in the export procedure to reduce the delivery timeline. 

      • Digital transfer of the product would satisfy the consumer. 

      • favourable policy for India. 

The marketplace provides equal opportunity to all types of the seller not just by providing integrated 𝙨𝙚𝙧𝙫𝙞𝙘𝙚. 

𝘾𝙊𝙉𝘾𝙇𝙐𝙎𝙄𝙊𝙉

 " 𝙀-𝙘𝙤𝙢𝙢𝙚𝙧𝙘𝙚 𝙞𝙨 𝙝𝙚𝙡𝙥𝙛𝙪𝙡 𝙩𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙩𝙝𝙖𝙩 𝙜𝙞𝙫𝙚𝙨 𝙩𝙝𝙚 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙖𝙘𝙘𝙚𝙨𝙨 𝙩𝙤 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙖𝙣𝙙 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙖𝙡𝙡 𝙤𝙫𝙚𝙧 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙. '

Article on "EVOLUTION OF GST IN INDIA" by Akshat Anand

EVOLUTION OF GST IN INDIA

Akshat Anand

B.Com Semester II (2022-26)

GST, or Goods and Services Tax, is a comprehensive indirect tax levied on the supply of goods and services in India. It was introduced on July 1, 2017, as a significant step towards simplifying and unifying the tax structure in the country. 

The evolution of GST in India can be traced back to several key milestones:

1. Need for a Unified Tax System: The concept of GST in India can be traced back to the recommendations of the Kelkar Task Force on the indirect tax system in 2003. The task force proposed a comprehensive indirect tax reform that would merge various central and state taxes into a single tax.

2. Formation of Empowered Committee: In 2007, an Empowered Committee of State Finance Ministers was formed to design and implement GST. The committee, under the leadership of Asim Dasgupta, played a crucial role in shaping the GST structure.

3. Introduction of Constitutional Amendment Bill: In 2011, the government introduced the Constitution (115th Amendment) Bill in the Lok Sabha, seeking to confer concurrent powers to the center and states to levy GST. The amendment bill aimed to create a framework for the implementation of GST.

4. Passing of GST Bill: After several rounds of deliberations and amendments, the Parliament passed the Constitution (122nd Amendment) Bill in August 2016. This marked a crucial milestone in the evolution of GST in India.

5. Formation of GST Council: The GST Council, consisting of the Union Finance Minister and Finance Ministers of all states, was formed to address various GST-related issues, such as tax rates, exemptions, and thresholds. The council played a vital role in deciding the structure and implementation of GST.

6. Designing the GST Framework: The GST framework required the integration of various central and state taxes, such as Central Excise Duty, Service Tax, VAT, and others, into a unified tax system. Extensive consultations and discussions were held to finalize the structure and rates of GST.

7. GST Implementation: On July 1, 2017, GST was officially implemented in India. With the introduction of GST, multiple taxes and levies were replaced, resulting in the simplification of the tax structure and reduction in tax cascading.

8. Subsequent Changes: Since its implementation, several changes and modifications have been made to the GST framework based on feedback and experiences. The GST Council continues to meet regularly to address issues and ensure the smooth functioning of the taxation system.

Overall, the evolution of GST in India highlights the government's efforts to simplify the tax structure, promote ease of doing business, and create a unified market. While there have been challenges in the implementation and transition, GST has significantly impacted the Indian economy and continues to evolve to meet changing needs.

ARTICLE ON "ACCOUNTING STANDARDS VS INDIAN ACCOUNTING STANDARDS" by Khushi Gupta

 ACCOUNTING STANDARDS VS INDIAN ACCOUNTING STANDARDS

Khushi Gupta, Roll No. 90

B.Com Semester 2, Session 2021-24

Accouting standard have been develop in India over time . It is also called IND AS .Such standards need to be adopted by various corporate firms and NBFCs in India under the supervision of the Accounting Standard Board (ASB). The Accounting Standard Board was established in 1977 as a regulatory body. ASB is a professional and autonomous body managed by the Institute of Chartered Accountants of India. Apart from this there are other bodies such as CII,FICCI, and ASSOCHAM which regulate ASB . The Indian Government Body that recommends this Standard to the Department of Corporate Affairs is the National Advisory Committee on Accounting Standards.

Indian Accounting Standard (IND AS)are a set of Accounting Standards notified by the Ministry of Corporate Affairs which are conversed with International Financial Reporting Standards (IFRS).Now, India will have two sets of Accounting Standards. Existing Accounting Standards under companies (AS) rules 2006 and IFRS conversed IND AS.

Accounting Standards (AS) are generally rule based and are less flexible for example as per AS-21 consolidation is required if a company holds 50% of the voting rights or control the board of directors. But in comparision, IND AS are generally substance based for example consolidation is required under IND AS- 110 if the holding company has control over its subsidiary.

AS applicable to not only the companies but to other entities. To the companies, notified standards under company rule are applicable And for other entities AS published by ICAI are applicable. But in comparison IND AS will be applicable in phases to mainly large companies . IND AS applicability from Financial Year 2015-16 is Voluntarily.

Phase 1 (Financial Year 2016-17) : All companies whose net worth is more than Rs 500 Crore. Holding, Subsidiary ,Joint Venture or Associate Companies of above.

Phase 2 (Financial Year 2017-18) : All companies whose net worth is more than  Rs 250 Crore. Holding, Subsidiary, Joint Venture or Associate Companies of above.

AS generally use the word “SHOULD” which is more advisory in nature. IND AS generally use the word “SHALL” in its guidance which makes it more strict. New Standards or guidance were not existing in AS. IND AS provides guidance on various transactions like agriculture, business combinations, etc. Interpretations or various guidance notes and other publications are available along with AS in existing scenario. IND AS has incorporated various interpretations which are part of IFRS.

AS contains subjectively at quite or few places. But IND AS there is specific guidance on various matters like depreciation or revenue recognition.

THE LIST OF IND AS AND AS:

In IND AS -1 presentation of financial statements. But in AS -1 disclosures of accounting principles and policies are applicable.

In IND AS-2 Inventories. But in AS-2 Valuation of Inventories are applicable.

In IND AS-7 Statement of Cash Flows. But in AS Cash Flow Statement is in AS-3 are applicable.

In IND AS-8 Accounting Policies changes in Accounting Estimate and Errors. But in

AS-8 Withdrawn and included in AS-26 are applicable.

In IND AS -12 Income Taxes. But in AS Accounting for Taxes on Income is in AS -22 are applicable.

In IND AS -33 Earnings Per Share. But in AS -20 Earnings Per Share are applicable.

In IND AS-10 Events occur after the reporting period. But in As -10 Accounting for Fixed Assets are applicable.

In IND AS -21 The Effect of Changes in Foreign Exchange Rates. But in AS -21 Consolidated Financial Statements are applicable.

In IND AS -18 Revenue. But in AS -9 Revenue Recognition is applicable.

In IND AS -23 Borrowing Costs. But in AS-16 Borrowing costs are applicable

Article on "Why is Gillette so successful" by Shruti Agarwal

 Why is Gillette so successful?

 – The Marketing Case Study

Shruti Agarwal, Roll No.: 235

B.Com Semester IV , Session 2020-23

INTRODUCTION:

Gillette is an American brand of men’s grooming and other personal care products including shaving supplies, owned by the multi-national corporation Procter & Gamble. You must be seeing this brand’s advertisements every day on your TV screens and when it comes to beard shaving and men’s personal care, the top most name that strikes your mind is – Gillette. Gillette is used by almost 750 million men in more than 200 million countries. Do you know how Gillette became one of the market leaders in the world?

MARKETING STRATEGY OF GILLETTE:

In 1921, when new competitors started entering the market, Gillette saw a massive decline in its product sales by 20% by the end of 1921. It was when Gillette needed to come up with a good marketing strategy to boost its sales. Gillette tweaked its pricing model and called it a ‘Razor Blade Strategy’. There are two complementary products attached to the strategy. The primary product is the razor and the secondary is the blades. Gillette reduced the cost of its razors and started selling them at an ultra-cheap price and low margins and strategized to sell blades at a higher profit margin. To understand it in a simpler way, Gillette let the customers do one-time purchases (razors) at a lower price and won them over as loyal customers. Now the same customer will come back, again and again, to purchase the high-price margined blades for the use of razors that was bought earlier. That’s how Gillette started making a recurring profit from the sale of blades even after selling the razors at low-profit margins. This amazing marketing strategy followed by Gillette made them huge sales with an increase of 127% by the end of 1922, i.e in just one year, Gillette was able to increase its sales by 127% as well as retain its customers for future sales.

CONCLUSION:

This massive increase in sales for the company serves as an inspiration for many other companies today. Companies like Sony use this same pricing model for selling PlayStation in the market and makes recurring profits by selling CDs and game subscriptions. Amazon Kindle also uses this same strategy by selling its kindle at a lower margin and sometimes even at a zero profit margin and retains its customers for its increase in demand for E-book subscriptions.

Therefore, we can conclude some important pointers from Gillette’s Razor Blade Strategy:

1. Razor Blade Strategy is a pricing model in which one good is sold at a low or zero profit margin and its complementary good is sold at a higher profit margin.

2. This strategy helps the companies in maximum consumer retention and recurring profit through the sales of their secondary product.

3. There is an example of a camera-selling company called Kodak, which used this same strategy by selling cameras at a lower margin and hiked the prices of the film rolls. But after a certain point in time, this strategy backfired on the company’s profits and incurred huge losses due to less demand for film rolls and the rise of digital cameras.

Reference links:

https://youtu.be/YRYLPeWCOP0

https://en.wikipedia.org/wiki/Gillette

https://www.forbes.com/companies/gillette/?sh=4419a0dc10a0

Article on "Unicorn Startups" by Saima Sarwar

 Unicorn Startups

Saima Sarwar, Roll No.- 53

B.Com Semester VI, Session 2019-22

Introduction

In Business, the word “Unicorn” is defined as those privately held start-up companies valued at over US$1 billion. This term was first used and get popularised in 2013 by venture capitalist Aileen Lee who choosed the mythical animal to represent the statistical rarity of such successful ventures. There are more than 1,000 unicorns around the world, as of March 2022, according to CB Insights. Collectively, they are valued at $3,516 billion total. Start-ups worth over $1 billion are called unicorns because they are so rare often, these companies have seen skyrocketing success, which has launched them into almost a mythical category, since they are so rare.

Main Content

With the development of technology, the number of global startups has been increased. Among the startups, firms that achieve $1 billion or more valuation are especially called unicorns to describe the rarity of highly successful startups. Becoming one of the unicorn startups brings notable growth with respect to a chance of financial capital and reputation because it is clear evidence of the firm’s potential competitiveness. Unicorn startups are generally of small size, which facilitates strategic decision making and implementation of quick practical measures. Their founders and leaders are usually experienced entrepreneurs, who have often dealt with high-risk situations and failures. They are financed by venture capital companies, which pressure them for quick development of a new business and foster innovation and launching of new products and services. Innovations offered to target audiences are digital, which reach the market leveraged by digital platforms widely spread ideas and information through social networks; that is much faster than traditional businesses that struggle and invest in the conventional marketing of products and services.

Unicorns are able to respond dynamically to adversity, especially because they can adapt BMI (Business Model Innovation) for making specific digital innovations as solutions to meet market needs quickly. This is because the business model is built around a single digital platform or software, which is very fast and cheap to develop and promote.BMI in digital startups is a gap in literature. It is an important step for digital startups to survive in the initial stage of their journey but should not be restricted to that phase. 

It is continuously necessary, especially for adopting innovative strategies or redefining the strategy to withstand crises by seeking economic results different from those already used. While work from home during pandemic fueled the growth of digital business in India, the incident also resulted in a long unicorn list. Mainly three factors, a thriving digital payments ecosystem, large smart phones user base and digital-first business models, have come together to attract investors. Tech companies, which have become household brands, are contributing to the unicorn boom in India as smartphone penetration and digitization of commerce in every aspect of life has increased manifold during the pandemic. Besides fintech, e-commerce grocery, SaaS and marketplace players are contributing the most to unicorn universe.

As of 05th May 2022, India is home to 100 unicorns with a total valuation of $332.7 Bn. The year 2021, 2020, and 2019 saw the birth of the maximum number of Indian unicorns with 44, 11, and 7 unicorns coming each year, respectively. COVID-19 has caused a great amount of socio-economic suffering globally, but during this time, the resilient Indian Entrepreneurs have worked effortlessly to not only contribute to the economy but to also contribute toward COVID-19 relief efforts. Indian unicorns are also exploring the public listing avenues as a next step to realize the growth potential. Some one of big unicorn names that offered an IPO include Zomato, Nykaa, PolicyBazaar, Paytm and Freshworks, while many are already in line such as Delhivery, Mobikwik and CarDekho. Today, 1 out of 10 unicorns globally have been born in India. Overall, 2021 is experienced an exponential boom when it comes to startups entering the unicorn club. This is a testament to the vibrant startup ecosystem present in India. Till date, 2022 has witnessed the birth of 14 unicorns with total valuation of $ 18. 9 Billion (As of 05th may 2022).

Conclusion

In conclusion, Unicorn startups are the most popular and widely used term nowadays; besides this it has a great impact on socio- economic growth and development. With the increase in digital world, the need of innovative startups which makes the life much easier is necessary. Innovative startups are establishing with promising ideas, in which investors are interested in investing their funds and this all resulted in the birth of unicorn startup worth $1 billion. And its rarity is decreasing day by day because of rapid increment in number of unicorns nowadays. In terms of the number of unicorn startups, India ranks third position after US and China in the whole world, which shows the passion for growth, success and development that Indian startups have. In upcoming years, we are expecting many more startups to enter in the unicorn list.

Reference- Google

Websites- Wikipedia, investopedia, CBinsight, investindia

Article on " MBA Chai Wala " by Aashi Kumari

 

  MBA CHAI WALA

(an aspiration to learn in top B-schools to becoming a guest speaker in IIMs)

Aashi Kumari, Roll No. 02

B.Com Semester IV, Session 2020-23

Like we all know that India is country which has a large number of youth and they are working so for keeping them active and energetic there is a famous beverage in INDIA ‘TEA’.

Many people found opportunity in this segment and started their business in ‘TEA’. The one of the famous and well-known entrepreneur is a Prafull Billore also known as MBA CHAI WALA.

He is a graduate from bachelor of commerce and while prepearing for MBA in finance. He started working for other companies than he found that why to work for others if I can become an owner of myself so he started a TEA STALL with 8,000 rupees which he borrowed from his father and the first day of TEA STALL was went terribly wrong and then he started approaching customer by talking them politely in English it attracts the people that a chaiwala is speaking in English. It gains so much popularity through social media, it includes a special corner in his stall for job seeker people where they can give their details and if the persons is required they can approach them. His motive not to earn only from their business but also providing employment to the person.

It gains the popularity because of the name and many people calls it a last option for not getting place in a MBA but Prafull says that a MBA stands for Mr.Billore Ahmedabad chaiwala and not Masters in Business Administration.

It was started in a 2017 and built an empire of 3 crore by selling tea. Now they are having a turnover of 5 crore and the net worth in 2021 was more than 5 crore. It has a 50+ total outlets in many major cities of India and it targets to cross 200 outlets by the end of 2022. MBA chaiwala also takes an order to set up a stall in weddings and any other functions which takes place in India.

It has a bright future ahead because TEA is a drink which consume by the all age groups of INDIA. Now Prafull is willing to start his own Tea Leaf brand and his solo aim is to provide a local Tea theela a great business idea and to help in expanding their business.

In his initial days he only make a 150 rupees but now his per day income is approx. 1.38 lakhs and the monthly income is approx. 42 lakh and their turnover per year is approx. 5 crore. The total net worth of Prafull is 30 million he is one of the youngest millionaire entrepreneur of India who become millionaire by selling tea.

Reference Website: 

www.gkhub.in

en.wikipedia.org

www.mbachaiwala.com

 

x

Article on " Fintech Revolution in India" by Bindu Kumari

 

   FINTECH REVOLUTION IN INDIA  

Bindu Kumari ,  Roll No. - 50 

Sem. - lV ( 2020- 2023)

                 

FINTECH : FINANCE + TECHNOLOGY

INTRODUCTION

Fintech which stands for financial technology is the term used to describe any technology that delivers financial services through software such as online banking, mobile payments app or even cryptocurrency. It help to develop unique and innovative models of assessing risk. Fintech has transformed the financial sector in India and is spreading around the world. Fintech has now started to be an important part of our daily life transaction.

Fintech is rapidly changing the face of the banking industry as several banks are now switching to digitalization as well as paperless and cashless processes. India is one of the fastest growing economies in the world. It transforms the people's lives. India becoming a hub for many fintech start-ups. Government initiatives promoting digitalization of financial systems and a cashless economy are another hope for shifting consumer focus towards better digital alternatives. The rapid growth of digital payments is growing.During the Covid-19 pandemic the entire population move drastically towards online modes of communication and works. Approximately 80% customer attracts towards digital market, customers is now three times higher than before the crisis.

GROWTH AND EXPANSION OF FINTECH IN  INDIA

The growth and expansion of the fintech in India has been done by a number of factors including the growing availability of smartphones, increased Internet access and high speed connectivity. In recent years, India's payments infrastructure has been improved with the introduction of new payments mechanism such as phonepe, paytm, goggle pay,  amazon pay, UPI, BHIM and others. The government's "MAKE IN INDIA" and "DIGITAL INDIA" projects also played a significant role in accelerating the adoption of fintech. On December 2021 PM Narendra Modi said that it was a time to convert fintech initiatives into a fintech revolution to provide a low cost and reliable payment system. The Indian fintech market currently stands as the third largest fintech ecosystem in the world behind the US and China.

 BIGGEST FINTECH STARTUP IN INDIA

Paytm is  India's number one biggest fintech startup. Paytm is founded in 2010 by Vijay Shekhar Sharma. It's headquarter is situated in Noida. Paytm is an Indian digital payment and financial services company. It offers financial services to customers through Mobile payment, online payment, bill payment, money transfer etc. It helps customers to settle down their transaction at anywhere.It change the lifestyles of customer and also help to save time, energy and money of customer for transfer of money. Paytm also help to settle down bills such as electricity, mobile, gas, cab etc. In August 2015 paytm receive license from RBI to establish paytm payment bank as a separate legal entity but the bank officialy inaugurated in November 2017. Paytm also launch paytm mall app which allows customer to online shopping. After the demonetization "Paytm Karo" is the famous Paytm tagline. 'Paytm Karo' means just transfer the money by using the app. Paytm helps to change the habits and behaviour of the Indian finamace sector.

FUTURE OF FINTECH IN INDIA        

Fintech offering customers faster financial services and product. Recently On December 9, 2021 Paytm signed an MoU with the skill development minister to train over 6000 young Indians in fintech through a six month course and even offer employement to eligible candidates. So the development of fintech industry is necessary for both global and Indian financial sector.