Commerce and Industry Minister Suresh Prabhu today asked his authorities to carry out another round of stakeholder assessments for the draft e-commerce policy as concerns have actually been raised on some proposals.The ministry, in a tweet, said that it “had gotten few issues regarding the draft e-Commerce Policy following which the minister has directed officials to conduct another round of consultation with stakeholders to resolve them. The Minister will personally examine the draft once it is prepared.”
The preliminary draft e-commerce policy has actually recommended a number of steps to promote the growth of the fast growing sector.It said online retail firms might have to keep user information solely in India in view of security and privacy concerns.It has specified that any group business of an online retailer or market might not be permitted to directly or indirectly influence the price or sale of product or services on its platform, a move that might completely limit e-tailers from offering deep discounts.The draft has actually also suggested introduction of a pre-programmed timespan for offering differential rates or deep discounts
by e-commerce players to customers.Further, the draft recommended allowing 49 percent foreign direct financial investment(FDI) in inventory-based service to customer e-commerce model.
Currently, FDI in such services is prohibited and it is permitted only in the marketplace model.Besides, it has discussed embracing a typical meaning of e-commerce for the function of domestic policy making and international settlements as currently there is no commonly accepted definition.In the context of international trade settlements, policy space for approving preferential treatment and imposing custom-mades responsibilities on e-transmission to digital products created in India would
be retained.Further, it suggested actions for increasing usage of RuPay. The actions could consist of identifying shortages in facilities, offering budget, branding, and attending to quantitative deficiencies in service for broader usage of RuPay cards.However, particular online companies have actually welcomed the draft policy. Travel e-commerce firm Travel Unravel Holidays has actually hailed the relocate to form a single regulator for the sector.Saurabh Sharma, Director, Travel Unravel Holidays said,”This move will organise the whole travel space, which eventually will help everyone in the chain specifically the end customer. The single e-commerce regulator will guarantee one umbrella that will considerably reduce the multiplicity of compliance and authorities to handle, offering smooth business ecosystem. “Furthermore, it will prevent monopolistic tendencies of big players to take over the marketplace and instill competitiveness and reasonable play in the travel organisation, he stated. Couple of concerns regarding the draft e-Commerce Policy following which the minister has actually directed authorities to conduct another round of consultation with stakeholders to address them.