The Indo-American Chamber of Commerce (IACC) stated on Thursday that any regulation for the eCommerce sector should ensure that its growth is not impeded in any way as the industry waits for the release of the eCommerce policy and rules, which are anticipated to be soon declared by the government.
The organization claimed that the industry was not given access to the draft rules for the current version of the policy and that the only way to guarantee that they are beneficial is to “finalize them only after consensus has emerged through transparent and open consultation with all the relevant stakeholders”.
Before the epidemic, four years ago, the most recent draft of the eCommerce policy was made available to the public. The IACC stated in a statement that the current version of the policy has not been shared with the public. This makes it difficult for stakeholders and industries to comment on the provisions that the proposed policy aims to implement to encourage growth in this important sunrise sector, further added by IACC.
In a recent statement, IACC has projected a compelling argument that the eCommerce sector already falls under the purview of other laws, including the recently passed Digital Data Protection Act along with an array of regulations pertaining to governing business compliance, competition, and consumer protection.
IACC has firmly asserted that the government must exercise caution and prudence while formulating eCommerce policies. They emphasize the need to avoid imposing any additional compliance burdens on a “sunrise sector that has a multiplier effect on economic growth, job creation, export orientation, and consumer empowerment.
IACC further added that the new eCommerce policy will, hopefully, align with these existing regulations. Policy making for eCommerce should be a “carefully calibrated effort to incentivize investment, boost innovation, and encourage competition”.