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Das et al (2015), e-commerce is growing exponentially
in Indian markets. This growth in internet usage is increasing day by day in
the world and so in India. Internet using population is growing so fast that
soon India will be at number one in the world. Currently, India is ranked at
second preceding the United States. The country has seen an unbelievable growth
in internet usage in 2000 – 2016 by 9142.5%. But still only 36.5% of Indian
population uses the internet and so there is a big scope of increasing the
online market in the future.). According to the study the online travel
business accounts of 70% of the total e-commerce in India. International trade
is growing and foreign investors are understanding the potential for investing
in Indian e-commerce sector. Internet giants like Google, Facebook and
Microsoft are investing in India. Recently Chinese e-commerce company Alibaba
group invested a huge amount of money in a Delhi NCR based start-up PayTM run
under the parent company One97 Communications. These e-commerce companies have
also started their logistics component for expanding their business

Chanana et al (2012) extends literature on ecommerce,
since the commercialization of the internet in 1994 there has emerged a new
medium of commerce popularly known as e-commerce. These companies have five
types of business categories known as business-to-business (B2B);
business-to-consumer (B2C); business-to-government (B2G); consumer-to-consumer
(C2C); and mobile commerce (m-commerce). PayTM is nearly in every category.
Forrester, a leading global research and advisory firm has claimed that
e-commerce market in India will soon grow the fastest in the Asia-Pacific
region at a compound annual growth rate of around 60%. This means PayTM has
come to the right place at the right time. The business model of PayTM is so
synchronized with the current economic situations in the country that they are
growing on their own without any external effort. The paper also lists some
future prospects of India in the ecommerce world.

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Ghuman et al (2016) is a case study on e-payment
giants: PayTM and Freecharge. The research includes the historic details and
current scenario of PayTM. One97, the parent company of PayTM started its
business from a mobile recharge company to becoming the country’s largest
ecommerce company that now has its own payment bank. Its diverse expansion made
it reach to the root level of the consumers. The company has customers both
from villages and metropolitans. As a result, PayTM is in the top seven
e-commerce companies in the country to have a net worth of at least a billion
dollar. The company has a customer base of more than 100 million. They have
around 13000 working employees and a total fundraise of $1.83 Billion

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