While there exists a broad consensus on the need for an e-commerce regulator, sources say that differences remain inside the government over whether a new entity with sweeping powers is needed, or existing agencies can do the job.
Trade, e-commerce and FMCG companies have a huge presence in India along with a large consumer base that provides numerous opportunities for every player in this sector.
Regulators must ensure a level playing field for all e-commerce players. This will benefit the consumer and turbo charge the MSME sector, and the Digital India and Make In India components of the government’s vision
The government has proposed guidelines on consumer protection that will be made applicable to e-commerce companies. Bigger players should have no problem implementing them
The exit from China frees up cash that may be headed for India to make the most of the projected growth story, but it won’t be easy.
What passes off as a policy draft is a generous sprinkling of digital buzzwords, less than profound observations and an inability to connect the dots across distinct issues such as privacy, data ownership and data security.
The retailer has witnessed a slowdown in the demand and expects a single digit growth in the Jan-Mar quarter of FY19.
The government has invited comments from the public on the policy till March 9.
There was no clarity if the government will push for an open consultation by the industry stakeholders on the draft before coming out with the final policy.
Multiple business leaders attending the World Economic Forum Annual Meeting here said there are confusions in their mind in the backdrop of recent policy changes for e-commerce players having FDI in India.
Stakeholder consultations on 'Framework for National Policy on e-Commerce' with representatives from government ministries, RBI, industry bodies, e-Commerce companies, telecom and IT companies and payment companies were held in April and July this year, Prabhu said in a written reply to the Lok Sabha.
The government has started meeting e-commerce companies like Snapdeal and Amazon and asking them about ways in which they can promote local manufacturers on their platforms
"Most important for us at this point of time as policy-makers and also as stakeholders who are at the receiving end... We do not have a national e-commerce policy and we do not have a consolidated legal framework to deal with it.
According to the ratings agency, further clarity is essential for the successful regulation of the sector, implementation of the policy and achieving the desired objective to bring about a level playing field between offline and online retailers.