To be or not to be. The opening word of a soliloquy via Prince Hamlet in one of Shakespeare’s famous plays can exceptionally describe the modern-day role of the authorities on the subject of the e-trade policy. Barely a couple of months away from the Lok Sabha elections, the authorities are in restoration on whether or not to first release a draft for the session or launch the e-trade policy directly.
According to resources, even as DIPP – the nodal ministry formulating the policy – desires to without delay launch the coverage, different ministries worried are pushing for a draft coverage and a public session before the coverage sees the mild of the day. As in line with assets, the draft coverage has been organized, and if all is going nicely, it may be floated within the following few days.
However, it’ll be interesting to peer how quickly it’s miles implemented.
This is a Catch-22 situation for the authorities, which has already obtained a variety of flak from worldwide e-trade agencies following the recently released Press Note 2. Press Note 2, which includes revised foreign direct funding (FDI) recommendations, bars marketplaces from doing commercial enterprise with dealers in which they have invested or keep the equity. It also restricts the marketplaces that have thrived through giving discounts to customers, from at once or indirectly influencing the price of the products bought on their platforms. If the authorities come up with full-fledged coverage, not many businesses who have invested billions of dollars in the Indian market would love it, relying upon to what extent it will impact their business. In this type of scenario, if any agency actions the court towards the coverage, it will be embarrassing for the authorities.
Alternatively, if the authorities come up with a draft coverage, it’ll deliver the stakeholders at least 15 days to reply. This will stretch it to the primary week of March, when the dates of the Lok Sabha elections are anticipated to be announced. Once the dates are introduced, the code of behavior can be implemented with immediate impact, and it’s going to bar the authorities from making any coverage decision.
According to resources, the great deal awaited e-trade policy is probable to consciousness on the difficulty of records safety and its nearby storage. The concept is to reinforce India’s position in worldwide trade negotiations. The explanation at the version in which the e-commerce company ought to behavior operations in India has already been described by using Press Note 2, which was introduced in December. However, it will likely be thrilling to peer if there are any similar rationalizations on that in the coverage, given that it may probably be protected inside the larger umbrella.
Mid remaining 12 months, the government had additionally set up a assume-tank which comprised domestic firms and enterprise bodies to formulate the e-commerce coverage. However, it did not see any participation from international corporations, including Amazon, Walmart, and Uber. While the authorities did acquire many representations and comments from the enterprise, the 2 primary players that presently govern over 80% of the e-trade marketplace percentage – Amazon and Walmart-owned Flipkart, had been missing from those conferences.
