Indian Economy News

Draft ecommerce policy, rules to be released together soon

  • IBEF
  • December 31, 2021

The government will soon distribute revised versions of the e-commerce policy and e-commerce rules to spell out comprehensive guidelines for all online transactions, covering all digital commerce and service providers, such as marketplaces, ride-hailing companies, ticketing and payment companies. The idea is that the two drafts will be issued at the same time and will be in sync, decreasing the possibility of misunderstanding.

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry will release the draft e-commerce policy.

"Bringing out both (policy and rules) at the same time will ensure greater synergy and more clarity for the industry," said one of the sources cited.

The Promotion of Industry and Internal Trade (DPIIT)'s most recent draft of the policy is likely to focus on establishing a regulator, drafting e-commerce legislation, and enacting sanctions for non-compliance. It will encompass all e-commerce businesses, both Indian and foreign-funded.

"This will be a comprehensive policy for all e-commerce companies operating in India," said one of the persons cited above.

The e-commerce sector is likely to grow to US$188 billion by 2025 from US$64 billion in 2020, according to estimates by accounting and advisory firm Grant Thornton.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.