New E-Commerce Policy by Indian Government to protect Domestic Business peopleSivaranjani Soundararaj (Author) Published Date : Jul 07, 2020 11:17 IST
New e-commerce Policy-Indian government checks Amazon, Google with 72 hours deadline: The Central Government has been working for two years to draft policies for the fastest growing e-commerce sector in India. As a result, e-commerce companies need to provide the central government request within 72 hours. This includes information on national security, taxation and law and order.
According to a policy draft prepared by the Ministry of Commerce for the promotion of industry and domestic trade, the central government has been instrumental in reducing the dominance of global technology companies such as Amazon.com, Alphabet Inc., Google, and Facebook Inc., as well as government oversight on how these companies handle data.
This policy will force government access to the source codes and methods of online companies. The ministry says it will help to ensure against "digitally induced biases" by competitors. Furthermore, these policies will also help e-commerce businesses to determine whether there is "explainable AI" in their platform.
Our country's digital economy is currently growing with half a billion users. Competition is rife in everything from online retail and content streaming to news and digital payouts. Global companies are at the forefront of each of these categories. Local startups are working with Chinese technologies. The local government has sought help from the government as the central government is discriminating against Chinese technologies.
The e-commerce sector policy, which is currently being developed by the Indian government, will help local startups through e-commerce companies and how to handle e-commerce data.
As a result, the policy mentioned above will lead to control of most of the repositories among some of the leading companies. The policy states that companies that provide services to people must keep the data they store inside the country.
Later, the draft policy would also require e-commerce sites to provide consumers with vendor details, including telephone numbers, customer complaints, email and addresses.
Moreover, foreign e-commerce companies that provide live streaming services that use payment tokens must ensure that users navigate such transactions through regular and regulated payment channels, including the draft government's policy features.