India Considers Massive Overhaul of E-Commerce Regulation
Feb. 2, 2015
After a recent U.S. presidential trip to India included an entreaty from lawmakers to help ease e-commerce restrictions there, Indian officials are considering adding even more regulatory hurdles, according to reports. A proposal under consideration did not address cross-border e-commerce directly, but would give regulatory oversight to nine entities including the Reserve Bank of India, the home ministry, the department of revenue and the ministry of corporate affairs.
Currently, the reports said, e-commerce issues are handled by the department of consumer affairs, but that agency said the industry has become too complex and there are aspects that should become the responsibility of other departments. Currently, there is no single law in the country to regulate, monitor and supervise e-commerce.
In a note to the committee of secretaries, which will consider the proposal, Consumer Affairs said while it is equipped to handle consumer complaints about e-commerce companies, the industry has grown to the point where taxation, fraud, data security and foreign direct investment are issues that must be addressed.