April 26, 2018
While China is the global e-commerce market international sellers need to be in now, many experts have tabbed India as the next one. To make that more likely, published reports this week indicate the Indian government has formed a task force that will guide national policy on e-commerce.
“Issues related to e-commerce including taxation, infrastructure, investments, technology transfer, data protection, regulations and competition were discussed,” said Rita Teaotia, India’s commerce secretary. “The objective is to come out with a framework for an e-commerce policy. The task force will come out with a set of recommendations, which would be brought before the think tank in five months.”
With nearly as many people as China, a quickly growing online shopping population and a government that has shown a commitment to digital payments, the potential for global companies to reach Indian consumers with their goods is massive. In fact, according to one study, despite not appearing in the top 10 largest e-commerce markets currently, India will vault past the U.S. as the second-largest by 2034.