Keshav Desiraju, Secretary, Department of Consumer Affairs, Government of India, claims that ecommerce business has been estimated at USD 15 billion, and is said to be growing at 35 - 40% y-o-y.
The travel segment alone accounts for over 70% of the total market, but other segments are also witnessing a notable increase. It is because of the significant increase in the ecommerce business that Desiraju urges for a policy framework and regulatory environment that favours the development of ecommerce and ensures consumer protection.
Moreover, experts say the Consumer Protection Act 1986 does not have any specific law to regulate online transactions.
S Gopalakrishnan, Commissioner, Civil Supplies and Consumer Protection, Government of Tamil Nadu, has also claimed that an amendment of the abovementioned act is necessary in order to suitably address all kinds of consumer transactions, as each situation needs a different set of tools to handle.
He also highlighted the need for amendment measures for the Information Technology Act to prevent the misuse of any personal information, and also to reduce the existing information asymmetry.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now