E-commerce has become a household name in India these days. With so many E-commerce giants around and so many e-commerce startups mushrooming up by every passing day, it is only justified that there should be a policy in place to take care of the process flow of the e-commerce industry.
The Indian ecommerce think tank, headed by Commerce Minister Suresh Prabhu, held its first meeting yesterday with an agenda to speed upon the process of framing a domestic ecommerce policy. As per reports, the Minister may finalise the framework around ecommerce policy in the next six months.
Around 50 stakeholders from Competition Commission of India, Telecom Regulatory Authority of India, Reserve Bank of India and secretaries from key departments as well as industry players attended the meeting. This includes India Internet leaders like Paytm, Ola, Flipkart as well as representatives from Bharti Enterprises, Reliance Jio, TCS, Wipro, MakeMyTrip, UrbanClap, Justdial, Pepperfry and Practo.
The efforts from the government end came at a time when the Indian ecommerce sector majors are fighting against reclassification of discounts as capital expenditure as well as are being accused of FDI violations by retailers group.
Interestingly, the government has become active on framing national ecommerce policy at times when global retailer Walmart is knocking India doors with the intention of gobbling up homegrown unicorn Flipkart for $20 Bn valuation.
The framework will deal around ecommerce sector issues like physical and digital infrastructure, regulatory regime, taxation policy, data flows, server localisation, intellectual property rights protection, FDI, amongst others. A task force will also be set up “which will go into the details of the inputs received from the stakeholders,” said commerce secretary Rita Teaotia in a media statement.
With all these developments underway, the next six months look crucial for the e-commerce industry.