New Oversight policy could make Indian E-Commerce more competitive
Updated: Aug 5, 2020
The National E-Commerce Policy seeks to identify the path to achieve this goal through a multi-pronged approach, including the following: creating a facilitative regulatory environment for growth of e-commerce sector; empowering domestic entrepreneurs; encouraging Make in India; safeguarding interests of the consumers; leveraging access to data; mainstreaming the segments of our economy, hitherto having limited access to the digital ecosystem (MSMEs, vendors, traders etc.), by empowering them through skilling and providing institutional support to familiarize them with technology; promoting domestic research and development in digital innovation in order to foster homegrown alternate, cheaper and efficient service providers suited for the Indian market, including those in digital payment processes, likeRuPay and BHIM;enabling domestic players in the Indian market to be sustainable in the digital economy;and stimulating the participation of micro, small and medium enterprises, start-ups and traders in the digital economy.
"The overall objective of this Policy is to prepare and enable stakeholders to fully benefit from the opportunities that would arise from progressive digitalization of the domestic digital economy".
With the advent of online e-commerce in India, consumers have benefitted from increased competition in the market by way of getting access to greater variety of products at competitive prices. Another benefit in this field has been the development in the area of logistics (delivery partners), which has provided employment to a significant number of people.
For more information check out this Draft National E-Commerce Policy: