Indian eCommerce today is surely at its unprecedented best and with government’s sheer focus on this digital format of retailing, the future of the industry look quite bright. Currently India stands as one of the leading eCommerce destinations across the globe. An industry that was earlier restricted to particular segments and then particular borders have now evolved on an international scale.
Today Indian eCommerce potential is being appreciated by many international brands as they have witnessed huge growth and revenue hike here. Despite such whooping scope and potential, the industry needs a lot of refurbishment in order to gain heights.
In a bid to organise the ever booming digital format of retailing in the country, the government is trying its best to comprehend issues pertaining to eCommerce to take a stagnant position in the global trade negotiations at the World Trade Organisation (WTO).
As per a government official, the ministry is now aggressively analysing at all the papers being submitted by the US at WTO on the matter to understand the standpoints mentioned. The US along with other nation wants WTO to start negotiations on new issues in the retailing ecosystem that includes eCommerce, investments and government procurement.
Indian commerce ministry is trying to resolve the issue related to the proposal and is minutely looking into every minute aspect. The only challenge here is the two different standpoints US and other countries have. The ministry is now observing everybody’s classification of eCommerce and asking measures to outcome with a specific definition. No doubt eCommerce is the fastest growing business segments not just in India, but across the globe and thus all eyes on it.
After the WTO's Nairobi ministerial meet last year, India has urged member countries to conclude long-pending issues of the Doha round like a reduction in agri-subsidies by developed economies before taking up any new matter for negotiations.
As per WTO’s Director General Roberto Azevedo, eCommerce is a transformative force in global trade, supporting growth, development and job creation.
By reducing trade costs associated with physical distance, eCommerce allows businesses to access the global marketplace, reach a broader network of buyers and participate in international trade, he had said last month.