News:United Nations Conference on Trade and Development’s(UNCTAD) has released the Business-to-Consumer(B2C) E-commerce Index 2019.
About the Index:
- The index compares 152 countries on four major indicators that are highly related to E-Commerce which includes population age, individuals using the internet, postal reliability index and secure internet servers.
Key takeaways from the index:
- Netherlands has topped the index for the second consecutive time followed by Switzerland.
- The only non-European countries on the top 10 list are Singapore (third) and Australia (10th).
- Further,the index has ranked Comoros, Burundi, Chad, and Niger at the bottom four in the list.
- India has showed slight improvement in its ranking.It was ranked at jump 73rd among 152 countries.
- About 11% of Internet users and 3% of the overall population in India have shopped online this year.
- As per the estimate, the Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of now.
- UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
- It is headquartered in Geneva, Switzerland and part of the UN Secretariat.Currently,UNCTAD has 195 member states.
- It was formed specifically to handle the problems of developing countries dealing with trade, investment and development issues.