India Outlined a New Drafting Policy to E-Commerce Sectors
By MYBRANDBOOK
India outlined a new draft policy to govern its growing e-commerce sector that would protect domestic firms and may further restrict the way foreign companies operate within the country. The draft, published on Saturday, called for data to be stored locally and for the setting up of more data centers and sever farms within the country.
India has outlined a new draft policy to govern its growing e-commerce sector that would protect domestic firms and may further restrict the way foreign companies operate within the country. Like in China, playbook in successfully nurturing the likes of Baidu, Alibaba and Tencent to become global tech giants. Beijing has many restrictions on how foreign tech companies can operate in the world's second-largest economy.
Expert says, now India is doing the right thing at right time. It may be a setback for foreign online retailers in India, the just-released e-commerce policy draft has proposed a mandatory process of registration and presence in the country for overseas e-tailers.
Acknowledging the misuse of gifting route by foreign e-tailers in the past few years, the draft policy has further proposed to ban such parcels and channelise all product shipments through the customs route.
The said changes in rules will impact foreign e-tailers especially Chinese firms such as Shein, AliExpress Clubfactory and Rowwe, who have been growing their business market share without having offices in India.
The policy says, India's data should be used for the country's development," the draft said. "Indian citizens and companies should get the economic benefits from the monetization of data.
Meanwhile, the 40-page draft document focuses on six broad issues- include data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce. For the draft policy, the govt has invited suggestions to be submitted before March 9.
While e-commerce in India is still at its nascent stage, compared to the overall retail sector, the market is predicted to reach $200 billion by 2026 from under $39 billion in 2017, mostly due to rising incomes and a surge in Internet users.
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