Government To Bring E-Commerce Policy Soon
New Delhi: The government will look to stabilize its e-commerce firm Open network For Digital Commerce (ONDC) and address the data privacy concerns before bringing a proposed e-commerce policy. Contrarily, the Department of Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry is also framing a national e-commerce policy.
Sources revealed that the government has already launched ONDC and raised funds for ONDC. Once this gets stabilized and democratized, it will be easy to formalize the proposed e-commerce policy.
In June 2021, the Department of Consumer Affairs under the Food and Consumer Affairs Ministry released a draft set of rules that aims to tighten the governance of e-commerce platforms. There is also an element of data privacy in e-commerce, which the Ministry of Electronic and Information Technology is looking into it and working on a law.
According to an FCCI report, there is growing consumer preferences to buy on the digital marketplaces. Thus, experts believe that e-commerce policy will impact the Indian e-commerce market, which is projected to touch USD 188 billion in 2025 from USD 64 billion in 2020.