India Ranked 26th in Economic Impact Created By E-Commerce Entrepreneurs: Shopify Entrepreneurship Index

India Ranked 26th in Economic Impact Created By E-Commerce Entrepreneurs: Shopify Entrepreneurship Index

The entrepreneurs of India, especially those forming a great aspect of Shopify (e-commerce platform), have a great impact on the economy of India. This put India in 26th rank on the Shopify entrepreneurship index. The index involved a total of 40 countries, out of which India ranked 26th. 

The index reports were released last week, which calculated the impact of GDP, the impact of business activities, jobs supported, and export activities supported by millions of entrepreneurs of Shopify in the financial year 2022. 

The public data from government statistical agencies, the international labour organization (ILO), the Organization for economic cooperation and Development (OECD), and the international monetary fund (IMF) was used to rank countries in the required scenario. The total impact was compared and related to the national values of each country and state.

The Indian entrepreneurs contributed Rs. 13,900 crores to the total GDP of India in 2022 on the Shopify platform. This resulted in a total increase in GDP from the year 2021 by 9.6 percent. This also increased business activity by 9.8 percent in 2022 compared to the previous year. A total of Rs. 30,100 crores was generated in the business activity. 

The index and the rank of India show the incredible growth of India in the e-commerce sector. It also prompts and promotes entrepreneurs and businesses in the market of India to grow in their respective businesses.

India's commitment and incredible economic growth are due to technological advancements and digital transformation. These factors have helped the e-commerce platform of Shopify to change from conductive to promoting, resulting in entrepreneurial advances and success. 

The e-commerce platform; shopify allows entrepreneurs to sell products by setting up online stores. This platform has more than 1.75 million sellers worldwide. The Indian merchants also created 2.23 lakh jobs for employment in 2022 on this platform. This is a 10 percent growth from the year 2021.

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