Ecommerce have made a lot of millionaires in India, when flipkart first started, small time traders who understood the potential have made a huge, I mean literally HUGE amount of money from it. How much you say?
A trader X based out in Mumbai use to distribute latest mobile covers making him around 40–50k, as soon as the ecommerce wave hit Indian market with flip kart, then Amazon stepping in, snapdeal etc. Mr. X got to know about it, he started selling on amazon and flipkart, within a week started getting from 10–25 orders to 300–500 orders, within three month he expanded his catologue started selling accessories, bought a godown to keep up with the growing inventory. Right now, he gets around 12000+ orders a month for his wide range of accessories. He's rich beyond his wildest dreams. Recently he bought a Jodi flat combined 4BHK at a plush society in western Mumbai. He is still doing the same thing,
Buying from Chinese manufacturers at (₹20–₹50 ) including custom charges per case(piece) and we buy it at 199–999.
It's a huge transformation I've personally seen in someone's life, by selling online. You just need VAT+ IEC to start importing products and put up to sell online. There's still a huge potential if you're thinking of entering the market,
VAT will cost 30k if you're in state of Maharashtra else it's around 7–10k excluding professional charges of your CA.
IEC is around 5k including professional charges.
To those who wanna get going, let me save you some time, Here's a list of reliable Chinese websites for starters which Mr. X uses for his business.
Tiydeal.com
dhgate.com
Jooraccess.com
there's a lot of reliable manufactures available, the hardest part is to get one.
If you're already coming with a big budget the only way I would recommend to import is would be
Alibaba.com
Trust me, the thrill of seeing your product in the hottest selling list and the ever increasing money in your account will make you never ever wanna work again.
Mr. X have a team of 4–5 people managing his entire inventory and products at a salary of 12–20k/per person . All he do is, living life, vacations in Europe, carribiens( earlier, he did not even knew a place like this existed)
I hope the asker got answer, it's very easy to make $1M selling online. All you need is a good strategy, unique products( don't be another seller with same trending product which eventually dilute profits for every seller.)
The uniqueness in your product is important factor to get huge orders.
Heck, you can design your own iPhone cases or accessories and get them manufactured from China.
The potential cannot be underestimated, at all. It's hardly a decade since we had ecommerce websites around. A lot of people are yet to adopt it.
If you got right product, on all the marketplaces. You can see $1M in your account in no time, I'm not even kidding.
Only thing you'll ever regret is, not having enough inventory to keep up with demand.
Happy selling!
Mr.X is someone I personally know since my childhood, he's an elderly person, I've not asked him before posting this answer(he no longer stays nearby, and no, he does not use what's app) . I think it would not be appropriate to put his name without his permission, to keep it simple, I kept it anonymous.