The Confederation of All India Traders (CAIT) has suggested that the e-commerce sector should have a regulatory authority to facilitate its growth in India in its response to the government on the draft e-commerce policy.
“CAIT wishes to stress upon the dire need for a judicial or quasi-judicial authority having enforcement as well as adjudicatory powers to give effect to the prevailing e-commerce policy in India. CAIT, at the very outset, lauds that the draft e-commerce policy identifies all issues that are faced with this sector like immense capital dumping, loss selling, etc, which needs to be curbed. However, not having a regulator/ judicial/quasi-judicial authority like we have in other jurisdiction, would render this policy framework as a paper / toothless tiger,” CAIT said in a statement.
The draft policy issued on February 23 stressed upon the need for e-commerce companies to construct a registered business entity in India in order to comply with the norms.
As per the draft, e-commerce companies will also be mandated to disclose the seller details such as their names, addresses and contact numbers. Sellers will also be required to provide an undertaking to the platform about the genuineness of products.
The trademark (TM) owners will also be given the option to register themselves with e-commerce platforms. Whenever a trade-marked product is uploaded for sale on the platform, the platform shall notify the respective TM owner.
The deadline to submit the comments for the industry stakeholders was March 9 which was later extended to March 29.―Money Control