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Today e-commerce is another name for cutting edge business. E-Commerce stands for electronic commerce. As the name suggests e-commerce is dealing in goods and services through the electronic media and internet. On the internet, it simply relates to a website of the vendor, who sells products or services directly to the customer from the portal using a digital shopping cart or digital shopping basket system and allows customer to make payment through credit card, debit card or EFT (Electronic fund transfer) payments. E-commerce or E-business involves carrying on business transactions with the help of the internet and by using the information technology like Electronic Data Interchange (EDI). In layman words, E-Commerce is the movement of business onto the World Wide Web. E-Commerce has almost overnight become the one of the most dominant online activity. No single definition can be give in regard of ECommerce, it means only commercial activity or transaction which is performed orlinked and supported by Electronic Communication. The effects of e-commerce are already appearing globally in all areas of business, no field is left untouched from ecommerce then it hardly mater whether it is customer service to new product design. It facilitates new types of information based business processes for reaching and interacting with customers which include online advertising and marketing, online order taking and online customer service. In now days E-commerce uses the www at least some point in transaction lifecycle. It has also reduce costs in managing orders and interacting with a wide range of suppliers and trading partners, areas that typically add significant overheads to the cost of products and services are now reduce to large extent. For developing countries like India, e-commerce offers considerable opportunity. In India it is still in nascent stage, but even the most-pessimistic projections indicate a boom. There has been a rise in the number of companies’ which has actively use e-commerce in order to increase their sales and to provide best customer services to their customers. Major Indian portal sites have also shifted towards e-commerce instead of depending on advertising revenue as it has emerges is one of cheapest and effective source of product promotion. Many sites are now selling a diverse range of products and services from flowers, greeting cards, and movie tickets to groceries, electronic gadgets, and computers, etc by use of ecommerce only. With stock exchanges coming online the time for true e-commerce in India has finally arrived. In other words E-commerce refers to those transactions which are done online. The biggest reason for using E-commerce is its multiple benefits that consumer’s gets in form of availability of goods at lower cost, wider choice and its time saving feature. Ecommerce can be broadly divided into two parts E-merchandise and E-finance. E-Commerce transaction is done by using various technical devices like: telephone, fax, e-payment, money transfer systems, e-data interchange and the Internet. This research paper is conclusion of various reviews of experts that had carried out their research on E-commerce. This paper put light on various opportunities that are prevailing in today’s scenario for e-commerce. This paper will also put emphasis on overall growth of e-commerce industry in India from 2010 to 2015. Along with this paper will specify the various key challenges that e-commerce industry has to face in developing country like India.