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21 MAR,2021 | MEDC
The formulation of a national e-commerce policy is a welcome step to boosting India’s retail industry. An equitable policy, convincing foreign companies that they are not being unfairly discriminated against, is required to enhance India’s online ease of doing business. India’s online retail sector has been caught in a policy quagmire for quite some time now. If an online economic rebound has to occur, India needs to correct some of the past policy inconsistencies in an industry pegged at around $ 25 billion. In the FMCG sector at least, e-commerce has huge scope, and this is our chance to maximize it. Our trade policy has largely been known for its protectionist tendencies, and streamlining e-commerce strategies will give us a chance to (at least partially) rectify this negative image, which is not totally undeserved. Our economy is now maturing, and unless we rationalize our online business regulatory policies, we risk being bypassed by global trade and commerce.
*Photo Credit: Google
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