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Importance of e-commerce sector in India

Recently Department of consumer affairs has published the draft e-commerce guidelines for consumer protection 2019 in the background of various bundles face by consumers through eCommerce.

What is eCommerce?

Ecommerce refers to the buying and selling of goods and sources using the internet and transfer the money and data to execute this transaction.

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Growth of eCommerce in India –

  • The eCommerce market in India is set to grow the fastest within the Asia Pacific region at a CAGR of over 57% between 2012-16.
  • Although having a large internet users base the penetration of eCommerce is low in India as compared to the USA, China, and France.
  • India’s retail market is estimated at $470 billion in 2011 and expected to grow $850 billion by 2020.
  • India’s Digital India Programme based eCommerce in every sector like manufacturing, retail, service providing GeM(Government market) in Agriculture e-NAM, etc.
  • FDI in the eCommerce sector.

Challenges of e-commerce in the Indian context

  • The threat to data privacy of consumers.
  • The problem in online identity verification
  • Unfair trade practices by eCommerce companies
  • Hiding policies regarding refund, guarantee warranties etc.

Current policies of government

  • Ecommerce policy to regulate ecommerce.
  • Storage of data in India (Data protection bill)
  • FDI policy for eCommerce

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Challenges

  • No policy regarding refund, guarantee warranties etc. – Provision for the same.
  • Draft eCommerce Policy
  • No storage of data and processing the data abroad. – Under new policy processing of data will be within India (restriction on cross border data flow)
  • Lack of proper Infrastructure – infrastructure-related e-commerce focused on the basis of Nature

Apart from that eCommerce guidelines for consumers protection 2019 mandates eCommerce companies to accept returns in the event of the products delivered are defective wrong or spurious. They will have to display details about the sellers on their website. These draft guidelines also provide to increase transparency in contracts signed between e-commerce entities and the sellers, directing them to display the terms of contract etc.

-Improve customer’s trust and accountability towards customers

NABARD 2019

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