Government of India is now planning to further back the ecommerce sector of the country. In its recent move, the Centre is looking forward to liberalize its current ecommerce policy to further lift the sector. The move certainly suggests that the government wants to give a second thought on online marketplace rules that were issued in March.
The news has surely fumed a new life in the sector, especially big players such as Mazon, Flipkart, Snapdeal etc. are looking very positive if government implements the new move. According to a senior official, a high-level committee has been set up under Niti Aayog CEO Amitabh Kant to look into ecommerce.
Government wants to liberalise the sector and do away with complex regulations. It will look into each and every aspect of ecommerce and issues involved, adds the official. As per the recent statistics on ecommerce sector by United Nations Conference on Trade and Development (UNCTAD), the global ecommerce market is worth $22.1 trillion. India, ranked 10 ahead of Brazil and Russia in per-capita ecommerce spending, has 22 million online shoppers.
Total B2C (business-to-customer) sales in India stood at US $20 billion and B2B (business-tobusiness) at US $298 billion. The ecommerce industry in India is expected to grow from US $17 billion in 2014 to US $60-70 billion by 2019. The 12-member committee will submit its recommendations to PMO in two months.
It includes secretaries of the Department of Industrial Policy & Promotion (DIPP), Department of Economic Affairs (DEA) and Department of Electronics and Information Technology (DEITY) besides representatives of six states.