Sign In
Learn bits
Economy
Mahesh

07/06/23 07:21 AM IST

E-commerce policy

In News
  • The national e-commerce policy will seek to create a conducive environment for the overall development of the sector and boost exports.
About the policy
  • The national e-commerce policy aims to establish a regulatory framework that facilitates ease of doing business in the sector.
  • By 2030, India's e-commerce export potential is estimated to range between 200 billion USD to 300 billion USD annually.
  • With global cross-border e-commerce exports projected to reach 2 trillion USD by 2025, India aims to capitalize on this growth opportunity.
  • Local traders' associations have been advocating for an empowered regulatory body to enforce e-commerce rules and curb violations.
  • While 100% foreign direct investment (FDI) is allowed in the marketplace model, FDI is not permitted in the inventory-based model.
  • Traders have expressed concerns regarding the violation of e-commerce rules, such as deep discounts and preferences given to select sellers.
  • The policy intends to clarify these issues and provide greater transparency in the rules governing FDI in e-commerce.
Significance
  • The e-commerce policy will serve as an overarching framework for the sector, ensuring coherence among various governing acts.
  • The sector is governed by the FDI policy, the Consumer Protection Act, of 2019, the Information Technology Act of 2000, and the Competition Act, of 2002.
  • The policy aims to streamline these regulations and create a conducive environment for the growth of the e-commerce industry.
Source- Financial Express

More Related Current Affairs View All

17 Oct

Global Hunger Index 2024

'The Global Hunger Index for 2024 states that a ‘serious’ level of hunger is prevalent in India. It ranks India 105th among 127 countries, giving it a score of 27.3.'

Read More

17 Oct

Marital rape

'A three-judge Bench headed by Chief Justice of India (CJI) D.Y. Chandrachud is slated to hear a batch of petitions challenging the constitutional validity of Exception 2 to Sectio

Read More

17 Oct

Citizenship Act provision in Assam

'A five-judge Constitution Bench of the Supreme Court is set to pronounce its verdict on whether Section 6A of the Citizenship Act, 1955 is constitutional.' The provision gran

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps