required modules to develop a ecommerce website I am beginning to create a new website which will serve as basically an Ecommerce website like display of products and sell products online and gift cards and all. Please let me know which are the module which i need basically and which are best suited for this.
For Drupal, it's Drupal Commerce that worth consideration now. I worked with it couple of months ago, it takes some time to get used to it, but once you get it, you can create a lots of things with contrib modules and other tools that you can't do without custom development with other CMS.

You will find lots of how-tos, contrib modules and other informations about Commerce http://www.drupalcommerce.org/

Also make sure to check out Commerce Kickstart, which is an installation profile for Drupal stores and it's coming with basic configurations like set up product - product display, and it contains all required modules and dependencies for Commerce http://drupal.org/project/commerce_kickstart