Utkarsh Raj – The youngster creating waves in the E-Commerce industry

Well, thank you for having me here. Firstly, I would like to thank my parents who didn't interfere with my idea of getting into e-commerce from a very early age. I was 15 when I saw my friends purchasing stuff online. Things like branded shoes, watches, t-shirts, and electronic gadgets – that sort of stuff. This concept of getting things delivered right at your doorstep intrigued me. I wanted to know what goes on behind the scenes of these websites. That made me explore e-commerce further.

While researching about this industry, I came to know about dropshipping. And I soon realized that many websites use this technique to start online businesses. I just wanted to help new entrepreneurs fulfill their dream of starting a business. And, that's the idea that made me take this up full-time in my career.

2) That's quite fascinating. Considering you are an Indian, how do you think the Indian market is behaving compared to the rest of the world? If you would bring one change to make this industry better in India, what would it be?

I'm proud that India is doing so well in this industry right now. According to recent statistics, India's revenue from e-commerce was approximately $49 billion in 2019 and it is expected to jump to $120 billion by the end of 2020. This means the growth rate stands at 51%, which is the highest in the world. That speaks a lot about how the industry is doing in India.

Your second question is a tricky one, though. With the country doing so well, it's hard to pinpoint a specific area that needs polishing. But if you insist, I would have to say entrepreneurs should focus more on digital marketing. Indians are very creative when it comes to creating dropshipping websites, but I feel they lack a small step in marketing their business. Small companies should pay attention to social media marketing and tie-up with influencers from YouTube, Instagram and TikTok. They should also consider paid advertisements with the platforms. That's the best way to put your brand among the crowd and let your product quality stand out.

3) What message do you have for new entrepreneurs who want to become successful in this industry?

I say this to every entrepreneur who seeks my help: don't rush your business. Watching your business grow is like raising a kid. You can't expect a 6-month old baby to know all the letters in the English alphabet. Similarly, you should give your business some time to respond. Whether it is Indian entrepreneurs or any other businessman in the world, overnight success in the e-commerce industry is a myth.

We are ever so grateful to Utkarsh Raj for spending time with us today. It has been a pleasure talking to you, and we hope our readers will feel enlightened with your expertise in this industry.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.