India: Experts urge regulators to issue ecommerce transactions legal framework

Wednesday 3 September 2014 14:09 CET | News

Experts in the field of ecommerce urge regulators to issue legal frameworks for ecommerce transactions to ensure consumer protection, reports.

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.

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Keywords: India, experts, regulators, ecommerce, transaction, legal framework, regulation, transportation
Categories: Payments & Commerce
Countries: World
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