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

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

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