August 7, 2018
In April, the Indian government announced it had established a task force that would work on setting a national e-commerce policy. Last week, Reuters reported it had reviewed a draft of the task force’s work that indicates India will establish a single e-commerce regulator. According to the news service, the Draft National Policy, among other things, will require all e-commerce and social media firms operating in India to store customer data locally.
While India is not currently a dominant e-commerce market, experts foresee tremendous growth. This year, retail e-commerce in India will grow 31 percent this year to $32.7 billion, and by one measure, could surpass the U.S.he effect a move to a single regulator would have on the market remains unclear.