E-commerce
business is flourishing at a great speed in India.
Most of the e-commerce entrepreneurs are concentrating upon commercial aspects
with an eye upon profit motive. In this race they are ignoring techno legal
requirements that may affect their rights in the long run.
For instance, e-commerce laws in India are spread across
multiple legal frameworks and they are seldom followed by Indian e-commerce
stakeholders. Even foreign e-commerce players and portals are required to be registered in India
and comply with Indian laws.
Similarly,
e-commerce players are required to comply with cyber law and cyber security regulatory compliances in India.
A dedicated law for cyber
security breaches disclosures is also in pipeline that would impose
stringent obligations upon e-commerce players operating in India.
Companies that would fail to comply with the cyber law due diligence requirements in India
may be punished according to Indian laws.
The cyber
security challenges for Indian companies are very difficult to
manage in the absence of proper planning and management. Directors of Indian
companies and e-commerce websites can be
held liable for improper cyber security dealings in India.
