Growing information and communications technology (ICT) leads to growth in e-business trend. This e-business has major macroeconomic impact on the economy and it could be justified with evidence of empirical studies.
Evidence from empirical studies, showed the impact of ICT on productivity and national economic growth. This is presented along with discussion of e-business, which changes the volatility and complicates measurement of growth. E-business is capable to bring down inflation, but it can also changed some monetary and fiscal policy challenges.
This is a way of coming future and it is also known as electronic commerce. This emerging followed the same development pattern that the automobile industry experienced 100 years ago. As per the Michael Dell, a successful e-commerce business can combine commerce, content and community together.
First decade of the new millennium is getting close but e-commerce is still in its primary stage but this brings equal opportunity to all firms to access to the international market.
Hence, e-commerce is a force which can change the pattern of profit and services which are sold. Because of its low and cheap marketing system it offers an equal opportunity to make marks in the new millennium.