The RBI and commerce ministry together with tax authorities and technology experts must define the data localisation issue.
Besides protecting privacy of its citizens, India’s proposed Data Protection Bill aims to create an environment that would restrict dominance of foreign companies and help home-grown startups prosper.
The idea is to reward users with cryptocurrency for watching advertisements.
The growth of e-commerce increases the size of the market, especially in rural areas.
Kunal Bahl, the plucky co-founder and CEO of Snapdeal, is back on deal street.
"Since we have a large exporter community here, I wish to draw attention... to the under-utilisation of our FTAs. Data shows that Indian exporters have not made very good use of FTA and preferential benefits that India has negotiated with partner countries," Wadhawan said addressing exporters at International Engineering Sourcing Show.
Suresh Prabhu said the government is conducting a sector analysis for FDI investments and is preparing suitable policies which will help in bringing foreign funds.
The policy talks less about online commerce, more about data protection; declares data its ‘national asset’
At present, the online appliance market constitutes about 10 percent of the Rs 1 lakh crore white goods industry.
Customers also said that even the delivery timing and availability of the products suffered post the implementation of the new FDI rules.
Selling Flipkart at a discount would hurt Walmart’s global shareholders. Even then, it won’t find a foreign buyer due to new ecommerce norms. An Indian buyer, if there is one, will like it dirt cheap.
Experts feel that these sales could be a means to dispose inventory as the FDI rules are scheduled to come into effect on February 1.
The norms also prohibit e-commerce platforms or their group companies from having equity ownership in firms that sell goods on their marketplace.
The damage that foreign deep pockets have done in India is substantial and probably irreversible
The new rules come just as Amazon and Flipkart’s parent company Walmart threaten to reprise their rivalry in the US here in India, and could stop them from bringing their worst practices to the Indian market.
Reason no 1: India Post is late to the party.
On an average, the number of complaints received against these e-commerce companies have also grown four-fold over a period of four years.
Baba Ramdev will undoubtedly give most established apparel brands run for their money in Paridhan’s initial years
With a stake in Future Retail, Amazon will have the advantage of being well-spread across India which Walmart does not have right now
Large appliances saw multiple times growth over an average business day, driven by a spike in all key categories such as TVs, refrigerators, and washing machines
Amazon India, which competes head-on with Walmart-backed rival Flipkart, has also recently crossed the milestone of four lakh sellers on its platform.
Sources told Moneycontrol that the government will likely extend the first month’s return filing date to ease online marketplaces’ transition to the new system that kicks in from Oct 1
Sources in the finance ministry told Moneycontrol that the government will come up with FAQs on Monday clarifying rules on the 1 percent tax collected at source (TCS) for online marketplaces that will kick in from Oct 1
The Finance Ministry Thursday notified TCS at the rate of 0.50 percent of the net value of intra-state taxable supplies made through the e-commerce portals by other suppliers in the Central Tax law.