He further noted that driven by the growth in India's retail market, the country's GDP will also witness an increase and result in more job opportunities.
"E-commerce market has brought a revolution in India's retail sector and nobody can stop it now," he said at an event here.
According to Kant, India is currently growing at over 7 per cent and if the country has to grow at 9 per cent, then e-commerce market will have to play a major role.
Kant also said that retail trade of India is bound to expand in coming years and its imperative upon traders to adopt technology and digitisation.
According to a report by Deloitte India and Retail Association of India, India's e-commerce market will touch $84 billion in 2021 from $24 billion in 2017 on account of a healthy growth in the organised retail sector.
Kant noted that traditional retail market and modern retail market (e-commerce) will co-exist in India even as the consumer behaviour is changing.
Speaking at the same event, trader body CAIT's secretary general Praveen Khandelwal said the current e-commerce is greatly vitiated by online companies by indulging into predatory pricing, deep discounting and lose funding.
"The government should constitute the regulatory authority for e-commerce and cash on delivery service for e-commerce should be banned," Khandelwal said.
He also demanded immediate changes in the policy such as inclusion of all players of digital payments not only BHIM & UPI and domestic players should be brought under the ambit of e-commerce policy.
On February 23, the government released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
The 42-page draft addresses six broad issues of the e-commerce ecosystem -- data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce.