E-commerce involves buying and selling goods and services over electronic systems like the internet. There are different types of e-commerce including business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and consumer-to-business (C2B). While e-commerce provides possibilities, there are also risks like credit card theft and not everyone having internet access. The future of e-commerce in India is growing.