The e-commerce industry has been growing at a fast pace in India, and the companies adopted strategies leading them to grow by leaps and bounds. Given the industry dynamism, the Government was not prepared at that pace and various companies worked as it suited their business. Now, the government plans to assign a definition to e-commerce companies. The policy will be aimed at defining their business, category, scope and operations. They will be classified by size, scale along with norms for the workforce and policies for foreign expansion. The definition will come of help in framing the incentive policy for the sector too.
The department bestowed with the task is nodal electronics and IT. As of now, the companies in engaging in business-to-consumer e-commerce are not allowed to receive foreign investment.
The government may also define best practices for e-commerce companies to make it better organized and controlled. This is to help online sellers, consumers to be able to refer to guidelines and gauge the work-flow at the respective e-commerce company. While no date to release the policy has been disclosed, it surely is a high priority task for the departments.
Widget not in any sidebars