These days a common question that is frequently
asked is will
e-books kill the bookstores in India? This genuine and
interesting question is asked because the e-books
publications in India and e-commerce industry are fast
becoming popular.
India is encouraging use of information and
communication technology (ICT) and this has opened new avenues for
the education sector of India. Foreign players have also realised the
potential of e-commerce and e-books in India which is emerging as the
largest market for e-books in the world.
However, in the zest of earning profits, Indian laws
in general and e-commerce
laws and regulations of India in particular must not be
forgotten. As a matter of fact, Indian
government would ascertain beneficiary in Walmart probe.
This shows that any intention to flout Indian laws is a real bad idea
especially if e-commerce market f India is to be captured.
The legal
formalities required for starting e-commerce business in India
are now well known. However, legal
issues in e-commerce in India are still not clear to many
national and international e-commerce business houses and
entrepreneurs. For instance, the legal
requirements to start an e-commerce website In India are
covered by many legislations including information technology act,
2000 (IT Act 2000). However, both national and international
e-commerce players are not complying with legal
issues of online shopping in India.
FDI
in wholesale trading and e-commerce sectors of India under
consolidated FDI policy of India 2012 was given a major
boost by Indian government. Further, the Parliament of India recently
approved
FDI in e-commerce sector of India. Thus, it is high time for
structuring
of investments in e-commerce businesses in India.
Perry4Law
and Perry4Law’s
Techno Legal Base (PTLB) suggest that e-commerce business
houses must keep in mind the specified requirements of cyber
due diligence for Indian companies. Many companies
have already found themselves on the wrong side of Indian laws for
violating the same. There is no sense in ignoring Indian laws by
e-books publishers and distributors when they wish to trap the Indian
e-commerce market.
Source: Legal Enablement Of ICT Systems In India.
