The e-commerce policy will be introduced utilizing the authorities before February 25, buyers’ frame CAIT national secretary general Praveen Khandelwal instructed FE Online.
The Ministry of Commerce and Industry senior officers assured CAIT on February 8 that the coverage is nearly equipped and will be introduced “quickly,” Khandelwal stated.
He turned into also advised by using the officials that the authorities will determine the effect of the e-commerce coverage and represent the regulatory authority for e-trade if required. “In all fairness, the effect of the coverage needs to be evaluated after a month,” added Khandelwal.
He stated that the Department for Promotion of Industry and Internal Trade (DPI) would first regulate the e-commerce policy; however, if it’s miles unable to achieve this, then handiest a regulatory authority will be set up.
In advance controlled with the aid of Ministry of Consumer Affairs, internal alternate becomes delivered underneath the ambit DIPP (Department of Industrial Policy and Promotion) to ensure coordination amongst internal and outside change via the Ministry of Commerce and Industry.
DIPP is now renamed as Department for Promotion of Industry and Internal Trade (DPI). “While it’s miles under DPI now, but I don’t assume they could be capable of manipulating the policy. Sooner or later, they may constitute the authority to reveal the e-commerce commercial enterprise,” stated Khandelwal.
Soon the issues of DPI may be discussed by using the ministry with buyers to take suitable steps to remedy their troubles; Khandelwal further stated including that a country-wide change coverage for retail exchange may also be worked out.
The expected e-commerce coverage follows the revised FDI guidelines within the area implemented on February 1 despite the extension sought using Amazon and Flipkart to comply with them.
Amazon had to withdraw items offered by one of its largest dealers – Cloudtail, wherein it has a stake, from its market platform following the revised norms.
However, shareholding in Cloudtail (a subsidiary of Prione Business Services joint project between NR Narayana Murthy’s Catamaran Ventures and Amazon) was tweaked in every week’s time.
While Catamaran Ventures improved its stake in Prione, Amazon brought its manage down from forty-nine % to 24% stake that ceased Cloudtail to be Amazon’s organization corporation, PTI quoted sources saying.
As per the guidelines, the goods of a dealer can be deemed to be managed with the aid of an e-trade market if extra than 25% of purchases of such dealer are from the marketplace entity or its institution businesses.